An Act excluding student loan forgiveness from taxable income for permanently and totally disabled veterans
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill would exempt student loan forgiveness received by permanently and totally disabled veterans in Massachusetts from being considered taxable income. It aims to provide financial relief to veterans who are unable to work due to their disabilities, ensuring that loan forgiveness doesn’t negatively impact their financial situation. The bill has been referred to the Revenue Committee and subsequently concurred in by the Senate. Several similar bills have been considered in the past.
Key provisions
- Excludes student loan forgiveness from taxable income.
- Specifically applies to permanently and totally disabled veterans.
- Addresses financial relief for veterans with disabilities.
- No specific details on implementation or eligibility criteria are provided in the metadata.
Who is affected
- Permanently and totally disabled veterans
- Veterans in Massachusetts
- Individuals receiving student loan forgiveness
Notable changes
- This bill creates a new exception to Massachusetts tax law.
- It builds upon previous attempts to address student loan forgiveness taxation for veterans.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
David M. Rogers
Cosponsor
David M. Rogers
Arguments
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