You asked for a brief summary of bills the Higher Education and Employment Advancement Committee reported favorably to the Finance Committee.

sSB 36 AN ACT CONCERNING STATE MATCHING FUNDS FOR ENDOWMENT ELIGIBLE GIFTS

This bill allows the state to bond funds as an alternative to appropriating funds for the Higher Education State Matching Grant Fund.

It requires the State Bonding Commission to authorize the issuance of bonds for the unfunded portion of the state match of endowment eligible gifts for FY 2001-02, and for FYs 2002-03 and 2003-04.

The bill also allows the commission to authorize the issuance of bonds for the amount of the state match for FY 2005-06 and each fiscal year thereafter.

The state match is equal to half the total amount of endowment fund eligible gifts received by or for the benefit of schools in the community technical-college system, the Connecticut State University system, the University of Connecticut, and Charter Oak State College.

Effective Date: July 1, 2004

SB 459 AN ACT ESTABLISHING A TAX EXEMPTION FOR SALES OF TEXTBOOKS AT PRIVATE OCCUPATIONAL SCHOOLS

This bill extends the tax exemption for sales of textbooks to full and part-time students enrolled at higher education institutions to include students enrolled at private occupational schools.

Effective Date: July 1, 2004

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