Connecticut House Bill HB05915

Connecticut 2013 Regular Session

• Introduced: 1/24/13
• Refer: 1/24/13

Caption

An Act Creating Incentives For Graduates Of Connecticut Colleges, Universities And Technical High Schools.

Impact

If passed, HB 05915 would amend the general statutes of Connecticut to introduce a framework for tax credits aimed at fostering a more positive employment landscape for young professionals. By promoting graduate retention, the bill seeks to mitigate brain drain – a common issue where trained individuals leave the state for better opportunities elsewhere. This could lead to a notable increase in the workforce available to local businesses and contribute to a healthier state economy in the long term.

Summary

House Bill 05915 aims to support recent graduates of Connecticut colleges, universities, and technical high schools by establishing tax incentives. The bill specifies two key provisions: tax credits for graduates who choose to remain in Connecticut after obtaining their degrees and additional tax benefits for businesses that employ these graduates and assist them in repaying their student loans. The goal of this legislation is to encourage both graduates to stay and work in the state, and businesses to hire those graduates, thereby boosting the local economy.

Contention

While proponents of HB 05915 argue that the bill would create beneficial economic incentives, there may be concerns regarding its funding and long-term sustainability. Critics might question whether the tax credits could result in a significant impact on the state budget or potentially favor larger corporations over small businesses. Additionally, there might be debate about the effectiveness of such incentives in retaining graduates compared to other factors like job availability and living conditions in the state.