HF 4525

as introduced - 90th Legislature (2017 - 2018) Posted on 05/17/2018 09:28am

A bill for an act
relating to taxation; individual income; providing a subtraction for employer student
loan repayment assistance; amending Minnesota Statutes 2016, section 290.0132,
by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2016, section 290.0132, is amended by adding a subdivision
to read:

new text begin Subd. 27. new text end

new text begin Employer student loan repayment assistance. new text end

new text begin The amount paid by an
employer, whether to an employee or a lender, of principal or interest on a qualified education
loan, as defined in section 221(d)(1) of the Internal Revenue Code, and incurred on behalf
of the employee, is a subtraction.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after December
31, 2017.
new text end