Connecticut Seal

General Assembly



January Session, 2009

LCO No. 9249



Offered by:


SEN. FASANO, 34th Dist.

SEN. CALIGIURI, 16th Dist.


To: Subst. Senate Bill No. 932

File No. 693

Cal. No. 509

After the last section, add the following and renumber sections and internal references accordingly:

"Sec. 501. (NEW) (Effective July 1, 2009, and applicable to income years commencing on or after January 1, 2009) (a) There shall be allowed a credit against the tax imposed on any corporation by chapter 207 of the general statutes in an amount determined under the provisions of subsection (b) of this section with respect to donations from a corporation to an eligible scholarship program.

(b) The amount allowed as a credit in any income year shall be the full amount of the donation to an eligible scholarship program, or fifty thousand dollars, whichever is less. The aggregate amount of all credits available in any calendar year shall not exceed two million eight hundred thousand dollars.

(c) For donations to qualify for a tax credit pursuant to this section, they shall be made to an eligible scholarship program. To be eligible, a scholarship program shall (1) be administered by an organization or other legal entity that is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as from time to time amended, (2) be established for the purpose of providing funds to students to be used as tuition at a nonpublic school approved by the State Board of Education, when such students enter such nonpublic school in kindergarten or transfer to such nonpublic school from a public school, provided such scholarship, once given, may be awarded each year thereafter, (3) limit its scholarships to students from families that are at or below two hundred fifty per cent of the federal poverty level, (4) award scholarships in amounts of not more than two thousand five hundred dollars per school year per student in grades kindergarten to eight, inclusive, and not more than six thousand dollars per school year per student in grades nine to twelve, inclusive, (5) limit scholarship awards to residents of Danbury, New Haven, Bridgeport, Middletown, Hartford, New Britain or Waterbury, and (6) not be a related entity, as defined in section 12-218c of the general statutes, to the corporation making the donation.

(d) The amount of credit allowed any taxpayer under this section for any income year may not exceed the amount of tax due from such taxpayer under chapter 207 of the general statutes with respect to such income year. Any tax credit not used in the income year during which the donation was made may be carried forward for the five immediately succeeding income years until the full credit has been allowed. "