Connecticut Seal

General Assembly

 

Proposed Bill No. 283

 

January Session, 2009

 

LCO No. 1380

   

Referred to Committee on Finance, Revenue and Bonding

 

Introduced by:

 

SEN. CALIGIURI, 16th Dist.

 

AN ACT CONCERNING A CORPORATION BUSINESS TAX CREDIT FOR DONATIONS TO SCHOLARSHIP FUNDS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That chapter 208 of the general statutes be amended to provide a credit against the corporation business tax for corporations that donate to a scholarship program for nonpublic school students, provided (1) such credit shall be not more than fifty thousand dollars per corporation, (2) there shall be a five million dollar state-wide annual cap, (3) for a scholarship fund to qualify, scholarships shall be limited to children whose family income does not exceed three hundred per cent of the federal poverty level based on family size, and (4) scholarship funds may be used only for tuition.

Statement of Purpose:

To provide a tax credit to corporations that donate to scholarship funds for nonpublic school students who are below a certain income.