Employer Tax Credits For College Tuition Contributions On Wednesday's Legislative Agenda
Wednesday at the Montana Legislature, lawmakers hear a bill to give employers a tax break if they help pay for their employees' college tuition.
House Bill 341 would give employers a 25 percent credit, up to $450, for tuition contributions. The bill’s sponsor, Republican Representative Bill Harris, says it would help Montana as a whole by reducing taxes while helping motivate and educate working students.
“The idea is to build a relationship or create a relationship between employers and employees. Get the student debt get paid down sooner so students have more freedom to get on with their lives and get involved with the economy.”
Despite skepticism from some lawmakers about giving more tax breaks with the fixed state budget, the bill easily passed the House 81-18. Harris says his only worry is that this bill is coming to the Senate side late, which could make it hard to find space in the final state budget.