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 Senate
- Passed House
- To Governor
- Became Law
Overview
This bill would exempt student loan forgiveness payments received by permanently and totally disabled veterans in Massachusetts from being considered taxable income. The legislation aims to provide financial relief to veterans who have experienced significant disabilities and may have received loan forgiveness as a result. It specifically targets those veterans who meet the criteria for permanent and total disability status. This would simplify the tax process for these veterans and offer a benefit for their financial well-being.
Key provisions
- Excludes student loan forgiveness from taxable income.
- Applies specifically to permanently and totally disabled veterans.
- Operates within the state of Massachusetts.
- Addresses tax implications of student loan forgiveness.
- Relates to financial assistance for veterans with disabilities.
- Sponsored by Senator William J. Driscoll, Jr.
Who is affected
- Permanently and totally disabled veterans
- Veterans in Massachusetts
- Taxpayers receiving student loan forgiveness
Notable changes
- Provides a tax exemption for student loan forgiveness.
- Targets a specific group of veterans with disabilities.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
William J. Driscoll Jr.
Cosponsor
William J. Driscoll Jr.
Arguments
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