Legislation

Title: Income Tax Credit - Student Loan Payments
Sponsored by: Senators Madaleno, Colburn, Feldman, Jones-Rodwell, King, Klausmeier, Mathias, Montgomery, Muse, Ramirez, and Raskin
Status: In the Senate - Hearing 2/26 at 1:30 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Allowing a qualified taxpayer a credit against the State income tax for up to 50% of the qualified student loan payments made by the taxpayer during the taxable year; providing that the credit may not exceed the lesser of 20% of the average annual tuition during the taxable year at all institutions of higher education or $2,500; requiring the Comptroller to adopt specified regulations; applying the Act to taxable years beginning after December 31, 2013; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Details

Cross-filed with: HB0885

Bill File Type: Regular

Effective Date(s): July 1, 2014

History

Legislation History
Chamber Senate Calendar Date 1/29/2014 Legislative Date 1/30/2014 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/05/2014 Legislative Date 2/05/2014 Action Hearing 2/26 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/19/2014 Legislative Date 2/19/2014 Action Hearing cancelled Proceedings
Chamber Senate Calendar Date 2/19/2014 Legislative Date 2/19/2014 Action Hearing 2/26 at 1:30 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	1/29/2014	1/30/2014	First Reading Budget and Taxation
Senate	2/05/2014	2/05/2014	Hearing 2/26 at 1:00 p.m.
Senate	2/19/2014	2/19/2014	Hearing cancelled
Senate	2/19/2014	2/19/2014	Hearing 2/26 at 1:30 p.m.

Documents

Date Posted	Document Name
1/30/2014	Text - First - Income Tax Credit - Student Loan Payments

File Code

Subjects

Statutes