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 proposes to exempt student loan forgiveness 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 allow these veterans to utilize the funds received for their financial needs without facing tax implications.
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.
- Aligned with similar legislation (H.3116, S.1962, H.2778, H.2448, H.2883).
- Introduced by Representative David M. Rogers.
Who is affected
- Permanently and totally disabled veterans
- Veterans in Massachusetts
- Students who have received 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
David M. Rogers
Cosponsor
David M. Rogers
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