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General Assembly Committee Bill No. 576
January Session, 2025
LCO No. 4840
Referred to Committee on COMMERCE
Introduced by:
(CE)
AN ACT REQUIRING THE ESTABLISHMENT OF THE LEARN HERE,
LIVE HERE PROGRAM, INCREASING THE ANNUAL EXPENDITURE
ON SUCH PROGRAM AND MAKING SUCH PROGRAM AVAILABLE
TO CERTAIN INDIVIDUALS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. Section 32-4i of the general statutes is repealed and the 1
following is substituted in lieu thereof (Effective October 1, 2025): 2
(a) [The] On or before October 1, 2025, the Commissioner of Economic 3
and Community Development, in consultation with the Commissioner 4
of Revenue Services and the chancellor of the Connecticut State Colleges 5
and Universities, [may] shall establish the Learn Here, Live Here 6
program. Such program [may] shall provide an incentive for graduates 7
of a high school, public institution of higher education, private 8
university or college, or health care training school in this state, or 9
graduates from a technical education and career school, to buy a first 10
home in the state. Persons (1) who graduate on or after January 1, [2014] 11
2026, from such high schools, institutions, universities, colleges or 12
schools, and (2) whose annual federal adjusted gross income is not more 13
than seventy-five thousand dollars may have their income tax liability, 14 Committee Bill No. 576
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up to a maximum of two thousand five hundred dollars annually, 15
segregated into the Connecticut first-time homebuyers account 16
established pursuant to section 32-4j, provided not more than [one] five 17
million dollars from all program participants may be so segregated in 18
any calendar year. After a period not exceeding ten years after 19
graduation, any amounts so segregated may be withdrawn by a 20
participant for the purchase of a first home in the state. The 21
Commissioner of Economic and Community Development may make 22
payments in accordance with this section from said fund to the 23
participants. For the purposes of this section, "health care training 24
school" means a medical or dental school, chiropractic college, school or 25
college of optometry, school or college of chiropody or podiatry, school 26
of occupational therapy, hospital-based occupational school, school or 27
college of naturopathy, school of dental hygiene, school of physical 28
therapy or any other school or institution giving instruction in the 29
healing arts. 30
(b) (1) After a period not exceeding ten years after the date of 31
graduation, a participant in the program established pursuant to 32
subsection (a) of this section may apply to the Commissioner of 33
Economic and Community Development for a payment to be issued, on 34
behalf of such participant, and used as the down payment on a house, 35
which must be the first house such participant has bought, either singly 36
or jointly. Such payment may be in an amount equal to the amount of 37
segregated funds deposited on behalf of such participant. If the payment 38
is less than such amount, any excess amount shall be deposited in the 39
General Fund. 40
(2) If a participant ceases to live in the state at any time up to one year 41
after [such date] the date on which the Commissioner of Economic and 42
Community Development issued the payment to the participant, such 43
participant shall repay one hundred per cent of the amount paid out. If 44
a participant ceases to live in the state at any time up to two years after 45
such date, such participant shall repay eighty per cent of the amount 46
paid out. If a participant ceases to live in the state at any time up to three 47
years after such date, such participant shall repay sixty per cent of the 48 Committee Bill No. 576
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amount paid out. If a participant ceases to live in the state at any time 49
up to four years after such date, such participant shall repay forty per 50
cent of the amount paid out. If a participant ceases to live in the state at 51
any time up to five years after such date, such participant shall repay 52
twenty per cent of the amount paid out. After five years, there is no 53
repayment obligation. Any amounts repaid under this subdivision shall 54
be deposited in the General Fund. 55
(c) On or before December 1, [2012] 2025, the Commissioner of 56
Economic and Community Development [may] shall develop, within 57
available appropriations, a comprehensive public education program to 58
educate recent graduates of a high school, public institution of higher 59
education, private university or college, or health care training school in 60
the state, or of a technical education and career school, about the 61
program established under this section for first-time home buyers. The 62
public education program shall include, but not be limited to, 63
information concerning life-time savings plans and information on the 64
purchase of a home. [If the commissioner develops such public 65
education program, the department] The commissioner shall begin to 66
implement such program not later than January 1, [2014] 2026. 67
Sec. 2. Section 32-4k of the general statutes is repealed and the 68
following is substituted in lieu thereof (Effective October 1, 2025): 69
As part of the Learn Here, Live Here program established pursuant 70
to section 32-4i, as amended by this act, for taxable years commencing 71
on or after January 1, [2014] 2026, the Commissioner of Revenue Services 72
shall segregate the income taxes paid by a participant in said program 73
during a period not exceeding ten taxable years following the year of 74
graduation. Upon the request of such participant, the commissioner 75
shall segregate an annual amount of such tax liability, up to a maximum 76
of two thousand five hundred dollars per year. The total amount 77
segregated for all program participants shall not exceed [one] five 78
million dollars in any calendar year. The commissioner shall deposit 79
such segregated amounts into the Connecticut first-time homebuyers 80
account established pursuant to section 32-4j. 81 Committee Bill No. 576
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This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2025 32-4i
Sec. 2 October 1, 2025 32-4k
CE Joint Favorable