Connecticut House Bill HB05913

Connecticut 2017 Regular Session

• Introduced: 1/19/17
• Refer: 1/19/17

Caption

An Act Establishing A Tax Credit For Businesses That Hire Recent Graduates Of Institutions Of Higher Education In The State.

Impact

If enacted, HB 05913 would lead to amendments in the general statutes to include provisions for the tax credits. This change would empower the state to bolster its labor market by encouraging businesses to create job opportunities for recent graduates. The expected outcome would be a reduction in youth unemployment rates and a potential enhancement of the local economy through increased workforce participation from newly qualified individuals.

Summary

House Bill 05913 aims to establish a tax credit for businesses that employ recent graduates from institutions of higher education within the state. The bill is designed to incentivize local businesses to hire newly graduated individuals, thereby supporting economic growth and addressing unemployment among the younger population. By providing financial relief in the form of tax credits, the state hopes to encourage companies to invest in local talent and foster an environment where young graduates can transition smoothly from education to the workforce.

Contention

While the bill is expected to gain support due to its potential benefits for local businesses and graduates, some points of contention may arise. Critics might express concerns about the sustainability of such tax incentives and whether they effectively lead to long-term employment solutions. Additionally, there may be discussions on the breadth of the definition of 'recent graduates' and the qualifications that businesses must meet to qualify for these credits, which could affect the bill's final implementation.