Creates a tax credit for employers who help reduce the governmental education loans of their employees

This bill creates a tax credit for employers who pay off part or all of their employees' student loans. The credit is equal to the amount the employer pays on behalf of an employee, but it is capped at $10,000 per employee per year. This financial incentive applies to loans owed to federal, state, or other institutions, and any unused credit can be refunded to the employer without interest. The law takes effect for tax years beginning on or after January 1 following its enactment.