SB0632

Find a 2014 Bill:

2014 Regular Session

 

Entitled:

Income Tax Credit - Student Loan Payments

Sponsored by:

Senator Madaleno

Status:

In the Senate - Hearing 2/26 at 1:30 p.m.


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.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Madaleno, Colburn, Feldman, Jones-Rodwell, King, Klausmeier, Mathias, Montgomery, Muse, Ramirez, and Raskin
Additional Facts:Cross-filed with: HB0885
Bill File Type: Regular
Effective Date(s): July 1, 2014
Committee(s):
Budget and Taxation   View Committee Hearing
Broad Subject(s):Taxes - Income
Education - Miscellaneous
Narrow Subject(s):Comptroller
Higher Education -see also- Comm Colleges; Med Schools; etc.
Income Tax
Loans -see also- Mortgages
Rules and Regulations
Scholarships and Student Financial Aid
Students
Tax Credits -see also- Circuit Breaker
Statutes:

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


October 2, 2015 9:05 A.M.