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Bill Summary · HB 361

Legislative bill overview

HB 361 establishes or modifies a tax credit for Kentucky employers who contribute to employee student loan repayment programs. The bill is currently in early legislative stages, having been introduced February 5, 2025, and referred to the House Appropriations & Revenue Committee. Specific details about credit amounts, eligibility requirements, and implementation mechanisms are not yet publicly available in standard legislative databases.

Why is this important

Student loan debt significantly impacts workforce participation and employee retention, particularly for younger workers. Tax credits incentivizing employer repayment assistance could influence hiring practices and benefit packages. However, such credits also represent foregone state tax revenue that must be budgeted elsewhere.

Potential points of contention

  • Cost to state treasury: How much tax revenue will Kentucky lose, and is this an efficient use of state resources compared to other workforce development programs?
  • Equity concerns: Will the credit primarily benefit higher-income employees in professional fields, or does it extend to lower-wage workers who carry significant debt?
  • Eligibility scope: Whether the credit applies to all employers equally or if there are size, industry, or other limitations that could favor certain businesses

Compiled from official sources — confirm details with the bill’s official record.

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