2017 Senate Bill 59

Authorize student loan tax breaks

Introduced in the Senate

Jan. 24, 2017

Introduced by Sen. Curtis Hertel (D-23)

To authorize an income tax credit equal to 50 percent of the amount of student loan payments made by a resident (subject to some caps) who got a degree from a college or university in Michigan and is employed in the state. The credit would not be “refundable,” but would reduce an individual’s tax liability on a dollar-for-dollar basis.

Referred to the Committee on Finance