2025 Regular SessionMississippi Legislature

HB1720: Income tax; exclude from gross income certain forgiven, cancelled or discharged federal student loan debt.

Legislative Summary

An Act To Amend Section 27-7-15, Mississippi Code Of 1972, To Revise The Definition Of The Term "gross Income" Under The State Income Tax Law To Exclude Federal Student Loan Debt Forgiven, Cancelled, Or Discharged Under The Public Service Loan Forgiveness (pslf) Program, Provided That The Individual Has Served Or Is Currently Serving In An Underserved Or Rural Community As Defined By The Mississippi Department Of Health Or The United States Department Of Agriculture; And For Related Purposes.

Demographic Impact

Overall analysis of equity impact

90% Positive
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Bill History

2/14/2025
Referred To Ways and Means
House of Representatives
2/26/2025
Died In Committee
House of Representatives

Status Information

Current Status
Failed(2/26/2025)
Chamber
House of Representatives

Sponsors

Republican: 1

Documents

Introduced
Bill Text2/14/202538.1 KB