2017 Regular Session
|At the request of:|
|Chief Sponsors:||Senator Thomsen, Courtney, Knopp|
|Bill Title:||Relating to income tax subtractions for student loan payments; prescribing an effective date.|
Allows personal income and corporate excise taxpayers to subtract from taxable income amounts paid as principal of or interest on qualified education loans, if borrower is taxpayer or spouse, or dependent or employee of taxpayer.
Reduces amount of allowed subtraction by amounts of interest deducted on federal return. Applies to interest paid in tax years beginning on or after January 1, 2017, and before January 1, 2023. Takes effect on 91st day following adjournment sine die.
|Fiscal Impact:||Fiscal Impact Issued|
|Revenue Impact:||Revenue Impact Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In Senate Committee|
|Current Committee:||Senate Committee On Finance and Revenue|