This bill creates a state tax credit for higher education expenses. It allows taxpayers to claim a credit equal to 20% of qualified tuition and fees paid for higher education, up to a maximum of $5,000 per tax year. Any unused portion of the credit can be carried forward and applied to taxes for the next seven years. The credit directly affects individuals or families paying for college tuition and fees, reducing their state tax liability based on actual education costs.
This bill increases tax credits for low-income families with children by boosting the credit percentage by 5 percentage points for each qualifying child beyond three. It allows families without a Social Security Number to claim the credit using an Individual Taxpayer Identification Number (ITIN) and creates a new $600 credit per qualifying dependent (including elderly or disabled relatives). The changes apply to tax years starting January 1, 2025, and require the state to provide multilingual outreach about tax credits through websites, employers, and social service programs. The bill directly affects families meeting federal eligibility rules for tax credits but facing barriers like lacking an SSN or needing assistance navigating the system.
Massachusetts bill SD 903 creates a Literacy Tax Credit (LTC) for individuals who help others achieve literacy through approved programs. It provides tax credits ranging from $750 to $2,200 per person helped, adjusted annually for inflation, to "Literacy Sponsors" working with accredited educational organizations. The program requires literacy assessments for learners and sets standards through the Massachusetts Department of Education. It directly affects volunteers and organizations supporting literacy efforts, aiming to reduce functional illiteracy across the state.
By Mr. Tarr, a petition (accompanied by bill, Senate, No. 2077) of Bruce E. Tarr for legislation relative to tax credits for affordable housing. Revenue.
By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 2058) of Patrick M. O'Connor for legislation to establish a tax credit for the purchase of hearing aids. Revenue.
By Mr. DiDomenico, a petition (accompanied by bill, Senate, No. 1957) of Sal N. DiDomenico and Joanne M. Comerford for legislation to support families through enhanced tax credits. Revenue.
By Mr. Lewis (by request), a petition (accompanied by bill, Senate, No. 2031) of Vincent Dixon, for legislation for a grade improvement tax credit. Revenue.
By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 2064) of Patrick M. O'Connor for legislation to establish a living organ donor tax credit. Revenue.
By Mr. Kennedy, a petition (accompanied by bill, Senate, No. 2025) of Edward J. Kennedy for legislation to establish the Massachusetts student relief and retention tax credit. Revenue.
H 4373 creates a tax credit for Massachusetts food businesses (like restaurants, farms, and grocery stores) that donate food to qualified nonprofits serving the needy. Donors can claim a credit equal to the fair market value of donated food (up to $25,000 annually), provided the nonprofit distributes it free or at cost with proper certification. The bill also provides legal liability protection for donors and distributors of donated food (including expired items), shielding them from civil damages unless the food was misbranded, handled negligently, or violated health regulations. It excludes alcohol, marijuana, and dietary supplements from coverage. This law directly affects food businesses, nonprofits, and food distribution programs across Massachusetts.
