Expands eligibility for the tuition assistance program by restoring eligibility to graduate students; makes optional semesters, quarters or terms eligible for awards.
Establishes a personal income tax deduction for the interest paid on student loans by individual taxpayers having a federal adjusted income of between $65,000 and $125,000, and married taxpayers filing jointly having a federal adjusted income of between $130,000 and $250,000.
Relates to a tuition tax credit; increases the amount of an allowable deduction (Part A); reduces income by the amount of interest paid for student loans (Part B).
Provides a tax credit for sales or rentals of agricultural assets to emerging farmers; requires the commissioner of agriculture and markets to implement a plan for certification of eligible taxpayers with respect thereto.