Introduced by Sen. Glenn Anderson (D) on June 4, 2013, to give college bachelor degree recipients who live and are employed in Michigan an income tax credit of up to half the amount they owe each year on student loans, capped at an amount equal to 20 percent of the annual tuition of a four-year state university. The bill would authorize the same credit to an employer who picks up the cost of an employee’s loan payments. Full Text and Analysis.
Referred to the Senate Finance Committee on June 4, 2013.
Reported in the Senate on November 14, 2013, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Referred to the Senate Appropriations Committee on January 8, 2014.