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Committee hears AB 386 to create tax credit for businesses that repay employee student loans; opposition seeks allocation criteria
2665768 · March 17, 2025
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Summary
AB 386 would give businesses a tax credit (up to $3,000 per employee per year) for assisting full‑time employees with student loan repayments, with supporters saying it would help retain graduates.
Assemblymember Tangipa introduced AB 386, which would establish a state tax credit for businesses that assist full‑time employees with student loan repayments. Under the author’s proposal the credit is $3,000 per employee annually, effective beginning in 2026; an aggregate program cap of $25 million was discussed in the analysis.
Supporters, including SHRM California and a…
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