A measure that would reward Nebraska employers who help pay off their workers' student loans advanced from a legislative committee Thursday.
The bill (LB685), sponsored by Lincoln Sen. Kate Bolz, would allow employers to claim up to $1,800 in nonrefundable credits toward the business' state income taxes for each employee they assist, beginning in 2017.
The state would commit a maximum of $1.5 million toward the credits each year — enough to cover half the average student loan payments of 833 people.
Bolz's measure advanced from the Revenue Committee unanimously Thursday and is now eligible for debate by the full Legislature this year.
An amendment the committee also approved Thursday adds a five-year sunset on the credits, meaning they will no longer be available in 2022 unless lawmakers extend the program.