How HB 813 changes current law
An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in personal income tax, further providing for classes of income. · Pennsylvania
How this bill changes current law
1 changeAI-generated reading aid from the bill's amendatory text — verify against the official bill.
The bill adds provisions to exclude certain student loan discharges and employer educational assistance from personal income tax in Pennsylvania.
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Section 303
(a.13) The following apply: (1) The following shall not be subject to tax under this article: (i) The discharge of an eligible student loan under a qualified loan forgiveness program. (ii) Amounts paid or incurred by an employer of an employe for educational assistance provided to an employe that are excludable under section 127 of the Internal Revenue Code of 1986 (26 U.S.C. § 127). (2) For the purposes of this subsection: (i) "Eligible student loan" shall mean a student loan issued pursuant to 20 U.S.C. Ch. 28 Subch. IV (relating to student assistance). (ii) "Qualified loan forgiveness program" means a loan forgiveness program established under 34 CFR Subt. B Ch. VI (relating to Office of Postsecondary Education, Department of Education).
This addition specifies exclusions from taxable income for certain student loan discharges and employer-paid educational assistance.
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https://www.oneclickpolitics.com/bills/31487-hb-813/current-law