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SENATE DOCKET, NO. 1268 FILED ON: 1/19/2023
SENATE . . . . . . . . . . . . . . No. 1851
The Commonwealth of Massachusetts
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PRESENTED BY:
Edward J. Kennedy
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act encouraging employer student loan repayment.
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PETITION OF:
NAME:DISTRICT/ADDRESS :Edward J. KennedyFirst Middlesex 1 of 2
SENATE DOCKET, NO. 1268 FILED ON: 1/19/2023
SENATE . . . . . . . . . . . . . . No. 1851
By Mr. Kennedy, a petition (accompanied by bill, Senate, No. 1851) of Edward J. Kennedy for
legislation to encourage employee student loan assistance. Revenue.
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1891 OF 2021-2022.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Third General Court
(2023-2024)
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An Act encouraging employer student loan repayment.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. Subsection (d) of Section 2 of Chapter 62 of the General Laws, appearing in
2the 2020 Official Edition, is hereby amended by inserting after subclause (I), the following
3subclause:-
4 (J) An amount equal to the principal payments on education debts paid by an employer
5on behalf of an employee who is a resident of the commonwealth; provided, however, that the
6amount of the deduction shall not exceed $2,000. For purposes of this subclause, “education
7debt” shall have the same meaning as defined in paragraph (12) of subsection (a) of Part B of
8Section 3.
9 SECTION 2. Chapter 63 of the General Laws, as appearing the 2020 Official Edition,
10shall hereby be amended by inserting after Section 38FF the following new section:- 2 of 2
11 Section 38GG. (a) For the purposes of this section, “education debt” shall have the same
12meaning as defined in paragraph (12) of subsection (a) of Part B of Section 3 of Chapter 62.
13 (b) In determining the net income subject to tax under this chapter, a business corporation
14shall be allowed a deduction of an amount equal to the principal payments on education debts
15paid by the business corporation on behalf of an employee who is a resident of the
16commonwealth; provided however, that the deduction taken for payments on education debts
17paid on behalf of any individual employee shall not exceed $2,000.