LCO No. 498 1 of 1
General Assembly Proposed Bill No. 5029
February Session, 2020
LCO No. 498
Referred to Committee on HIGHER EDUCATION AND
EMPLOYMENT ADVANCEMENT
Introduced by:
REP. TURCO, 27th Dist.
AN ACT ESTABLISHING A TAX CREDIT FOR GRADUATES OF
INSTITUTIONS OF HIGHER EDUCATION AND PRIVATE
OCCUPATIONAL SCHOOLS IN THE STATE.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That title 12 of the general statutes be amended to allow a credit 1
against personal income tax for any resident who (1) receives a 2
bachelor's degree, associate degree or an advanced manufacturing 3
certificate from an institution of higher education or private 4
occupational school in the state, and (2) has an adjusted gross income of 5
not more than seventy-five thousand dollars. Such credit may be 6
claimed for ten successive taxable years and shall be equal to such 7
resident's qualified education loan expenses not to exceed certain limits 8
depending on the degree received and the field in which such resident 9
is employed. 10
Statement of Purpose:
To establish a personal income tax credit for in-state graduates with a
bachelor's degree, associate degree or an advanced manufacturing
certificate who live in the state.