Skip to content

Bills · 2009-2010 Regular Session

SB 166

Died at session end Official bill text Atom feed

creating an individual income tax deduction for any amount of interest paid on certain loans that are used for educational expenses.

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Generally under current federal law, students may claim an income tax

deduction for up to $2,500 of interest that they pay each year on qualified student

loans for themselves, their spouse, or their dependents. This federal deduction

phases out as the claimant's modified adjusted gross income increases.

This bill creates an individual income tax deduction for any amount of interest

that is paid on certain educational expenses loans. The loans to which the exemption

applies are loans that are used to pay for tuition and other educational expenses that

are directly related to the claimant's, or the claimant spouse's, attendance at certain

accredited, nonprofit, postsecondary educational institutions.

Because this bill relates to an exemption from state or local taxes, it may be

referred to the Joint Survey Committee on Tax Exemptions for a report to be printed

as an appendix to the bill.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: A. Lasee (R) , Darling (R) , Hopper (R) , Kedzie (R) , Leibham (R) , Plale (D) , Schultz (R) , Taylor (D)

15 cosponsors

A. Ott (R) , Bies (R) , Brooks (R) , Gunderson (R) , Jorgensen (D) , Kleefisch (R) , Knodl (R) , Kramer (R) , Lothian (R) , Murtha (R) , Nass (R) , Spanbauer (R) , Strachota (R) , Van Roy (R) , Vos (R)

Full history

  1. Apr 9, 2009 · Senate

    Introduced by Senators Darling, Leibham, Kedzie, A. Lasee, Hopper, Schultz, Plale and Taylor;Cosponsored by Representatives Vos, Knodl, Gunderson, A. Ott, Bies, Jorgensen, Lothian, Kramer, Brooks, Murtha, Kleefisch, Strachota, Nass, Spanbauer and Van Roy

  2. Apr 9, 2009 · Senate

    Read first time and referred to committee on Health, Health Insurance, Privacy, Property Tax Relief, and Revenue

  3. May 7, 2009 · Senate

    Fiscal estimate received

  4. Apr 28, 2010 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1