An Act excluding student loan forgiveness from taxable income for permanently and totally disabled veterans
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
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 have experienced significant disabilities and may have received loan forgiveness as a result. The legislation specifically targets this group, recognizing their unique circumstances and financial needs. This would simplify the tax process for these veterans and reduce their tax burden.
Key provisions
- Excludes student loan forgiveness from taxable income.
- Specifically applies to permanently and totally disabled veterans.
- Operates within the state of Massachusetts.
- Addresses the tax implications of student loan forgiveness.
- Provides a benefit to veterans with disabilities.
- Relates to revenue and taxation.
- Introduced by Representatives Haggerty and Giannino.
Who is affected
- Permanently and totally disabled veterans
- Veterans in Massachusetts
- Taxpayers receiving student loan forgiveness
Notable changes
- Creates a specific exemption for student loan forgiveness for a particular group of veterans.
- Addresses a potential tax liability for veterans who receive loan forgiveness.
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Richard M. Haggerty
Cosponsors
Jessica Ann Giannino
Richard M. Haggerty
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours