Connecticut House Bill HB05167

Connecticut 2011 Regular Session

• Introduced: 1/11/11
• Refer: 1/11/11

Caption

An Act Establishing The Learn Here, Live Here Program.

Impact

The implications of HB 05167 extend to both housing and economic development within Connecticut. By allowing graduates to allocate their income tax payments for significant life investments, the bill is designed to encourage homeownership among young adults while also fostering a culture of entrepreneurship. This could lead not only to an increase in home buyers in the state but also the creation of new businesses, which is crucial for economic growth and job creation within local communities.

Summary

House Bill 05167, titled 'An Act Establishing The Learn Here, Live Here Program,' seeks to support graduates from public and independent higher education institutions in Connecticut. The bill permits graduates to use a portion of their income tax payments toward the purchase of their first home or to establish a new business within the state. This initiative, effective from January 1, 2013, aims to incentivize recent graduates to remain in Connecticut by providing them with financial assistance to invest in their living situations or entrepreneurial ventures.

Contention

Despite the intended benefits, there are potential points of contention regarding the feasibility and effectiveness of the program. Critics may argue about the long-term implications of utilizing tax revenues for such programs, questioning whether the benefits to the graduates outweigh the financial impact on state resources. Furthermore, the bill's success relies on the assumption that graduates will remain in Connecticut after completing their education, a factor that could be influenced by broader economic conditions and job market availability.