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An Act To Assist Higher Education Debt Reduction
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §5122, sub-§2, ¶Y is enacted to read:
 
Y.  To the extent included in federal adjusted gross income, interest paid on student loans used to attend a degree-granting institution of higher education.
Sec. 2. Application. This Act applies to tax years beginning on or after January 1, 2007.
 
SUMMARY
This bill provides an income tax deduction for student loan interest that has not already been deducted from federal adjusted gross income.