Introduced

Passed House

Passed Senate

Became law

Adjourned sine die. The bill was pending when the session ended, so it did not pass.

Last action · February 7, 2025

To Appropriations & Revenue (H)

Introduced February 5, 2025

House

Adjourned Sine Die

2025 Regular Session

HB361

AN ACT relating to the employer student loan repayment credit.

Create a new section of KRS Chapter 141 to establish the employer student loan repayment credit, equal to 50 percent of the amount paid by an employer on an eligible student loan of a qualified employee effective for taxable years beginning January 1, 2025, but before January 1, 2029; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credit.

Education, Higher Loans and Credit Taxation Taxation, Income--Corporate Taxation, Income--Individual Reports Mandated

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This bill would create a tax credit for Kentucky employers who help their workers pay off student loans, letting those employers claim back 50 percent of what they contribute toward an eligible employee's student loan payments. The credit would be available for tax years 2025 through 2028. It is intended to encourage businesses to offer student loan repayment as a workplace benefit. Who it may affect: employers who offer student loan repayment benefits, and employees who carry student loan debt.

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