Connecticut Seal

General Assembly

 

Proposed Bill No. 5586

 

January Session, 2017

 

LCO No. 1206

 

*01206*

Referred to Committee on FINANCE, REVENUE AND BONDING

 

Introduced by:

 

REP. ARESIMOWICZ, 30th Dist.

REP. RITTER M., 1st Dist.

REP. GODFREY, 110th Dist.

REP. ORANGE, 48th Dist.

REP. URBAN, 43rd Dist.

REP. BERGER, 73rd Dist.

REP. WALKER, 93rd Dist.

REP. GENTILE, 104th Dist.

REP. HENNESSY, 127th Dist.

REP. PERONE, 137th Dist.

REP. GENGA, 10th Dist.

REP. MORIN, 28th Dist.

REP. MORRIS, 140th Dist.

REP. ROJAS, 9th Dist.

REP. JOHNSON, 49th Dist.

REP. LESSER, 100th Dist.

REP. SANTIAGO, 130th Dist.

REP. BARAM, 15th Dist.

REP. ROVERO, 51st Dist.

REP. HADDAD, 54th Dist.

REP. ROSE, 118th Dist.

REP. ALBIS, 99th Dist.

REP. STALLWORTH, 126th Dist.

REP. ARCE, 4th Dist.

REP. VARGAS, 6th Dist.

REP. HAMPTON, 16th Dist.

REP. DEMICCO, 21st Dist.

REP. SANTIAGO, 84th Dist.

REP. ARCONTI, 109th Dist.

REP. SCANLON, 98th Dist.

REP. MCCARTHY VAHEY, 133rd Dist.

REP. SIMMONS, 144th Dist.

REP. ADAMS, 146th Dist.

REP. STAFSTROM, 129th Dist.

REP. GRESKO, 121st Dist.

REP. REYES, 75th Dist.

REP. SLAP, 19th Dist.

REP. CONLEY, 40th Dist.

REP. ZIOGAS, 79th Dist.

REP. ELLIOTT, 88th Dist.

REP. MUSHINSKY, 85th Dist.

REP. RYAN, 139th Dist.

REP. ABERCROMBIE, 83rd Dist.

REP. TONG, 147th Dist.

REP. RILEY, 46th Dist.

REP. LINEHAN, 103rd Dist.

REP. DIMASSA, 116th Dist.

AN ACT MAKING CONNECTICUT MORE AFFORDABLE FOR COLLEGE GRADUATES.

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

That title 12 of the general statutes be amended to (1) establish a tax credit against the personal income tax for individuals who are employed in this state, and (A) receive, on or after January 1, 2018, an associate, bachelor's, master's or doctoral degree from an accredited institution of higher education in this or another state, and (B)(i) reside in this state, or (ii) move to this state within two years after receiving such degree; (2) provide that such tax credit may be claimed for five successive years; and (3) require the executive director of the Office of Higher Education and the Commissioner of Revenue Services to jointly report annually to the joint standing committee of the General Assembly having cognizance of matters relating to higher education and employment advancement the number of such tax credits claimed, the number of residents who received an eligible degree and the number of individuals satisfying the requirements of subparagraphs (A) and (B)(ii) of subdivision (1) of this section who claimed such tax credit.

Statement of Purpose:

To retain a highly educated workforce and strengthen Connecticut's economy.