Bills · 2023-2024 Regular Session
Relating to: adopting the federal student loan forgiveness tax exclusion for state tax purposes. (FE)
Federal_state relations Income tax Legislature — Tax exemptions joint survey committee on Lemon law Scholarships and loans School — Administration
- Introduced, stopped here
- Passes Assembly, not reached
- Passes Senate, not reached
- Governor signs, not reached
- Law, not reached
Unfamiliar terms? Glossary
What this bill does
Plain-language analysis by the nonpartisan Legislative Reference Bureau
This bill adopts for state income tax purposes the student loan debt relief tax
exclusion under the federal American Rescue Plan Act of 2021. Under federal law,
the student loan debt relief tax exclusion expires after the 2025 tax year. The bill
extends the exclusion for state tax purposes beyond the 2025 tax year.
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: Andraca (D) , Baldeh (D) , Bare (D) , Cabrera (D) , Clancy (D) , Conley (D) , Considine (D) , Drake (D) , Emerson (D) , Hong (D) , J. Anderson (D) , Jacobson (D) , Joers (D) , Madison (D) , Moore Omokunde (D) , Myers (D) , Neubauer (D) , Palmeri (D) , Ratcliff (D) , Shankland (D) , Shelton (D) , Sinicki (D) , Stubbs (D) , Subeck (D) , Vining (D)
10 cosponsors
Agard (D) , Carpenter (D) , Hesselbein (D) , L. Johnson (D) , Larson (D) , Pfaff (D) , Roys (D) , Smith (D) , Spreitzer (D) , Wirch (D)
Full history
- Feb 12, 2024 · Assembly
Introduced by Representatives Andraca, Joers, J. Anderson, Baldeh, Bare, Cabrera, Clancy, Conley, Considine, Drake, Emerson, Hong, Madison, Moore Omokunde, Myers, Neubauer, Palmeri, Ratcliff, Shankland, Shelton, Sinicki, Stubbs, Subeck, Vining and Jacobson; cosponsored by Senators Roys, Smith, Agard, Carpenter, Hesselbein, L. Johnson, Larson, Pfaff, Spreitzer and Wirch
- Feb 12, 2024 · Assembly
Read first time and referred to Committee on Ways and Means
- Feb 22, 2024 · Assembly
Fiscal estimate received
- Apr 15, 2024 · Assembly
Failed to pass pursuant to Senate Joint Resolution 1