Introduced
by
To give employers up to $1,800 state business tax credit covering half of the contributions the employer makes to repaying the college loans of up to 20 employees. The amount the credit exceeds the employer’s tax liability would not be “refunded” (i.e. a cash subsidy) but could be “carrier forward” and used against up 10 years of future tax liability. The bill earmarks $1.5 million for the credits, payable on a first-come-first serve basis, with half reserved for smaller employers.
Referred to the Committee on Education
