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House tax committee lays out bill to double student loan credit, make it refundable
Summary
The House Tax Committee laid out House File 1933, which would raise Minnesota's maximum student loan tax credit from $500 to $1,000 and make it refundable; medical students testified in support and committee members discussed the bill's fiscal note.
The House Tax Committee voted to lay out House File 1933, a bill that would raise the maximum student loan tax credit from $500 to $1,000 and make the credit refundable, the bill's author said during the committee hearing.
The bill, presented to the committee as House File 1933, would modify the existing student loan credit by increasing the maximum credit and making it refundable so taxpayers can receive a payment if the credit exceeds their tax liability. Representative Herr, the bill author, told members the measure had been considered in prior bienniums and that the updated fiscal estimate is about $15,000,000.
"This bill modifies the existing student loan credit in 2…
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