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CT HB06627

Bill

Official Source

Status

Introduced

3/22/2011

Primary Sponsor

Finance, Revenue and Bonding Committee

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Origin

House of Representatives

2011 General Assembly

AI Summary

  • Allows a tax credit against the corporation business tax for donations to scholarship funds that assist low-income students attending private elementary or secondary schools
  • Credit amount equals 10% of donations exceeding $2,500, with a maximum credit of $5,000 per business firm per income year
  • Total tax credits across all business firms cannot exceed $500,000 in any single fiscal year
  • Unused credits may be carried forward for up to five subsequent income years
  • Takes effect July 1, 2011, and applies to income years beginning on or after January 1, 2011

Legislative Description

An Act Concerning A Tax Credit For Corporate Donations To Scholarship Funds.

Last Action

Public Hearing 03/28

3/23/2011

Committee Referrals

Finance, Revenue and Bonding3/22/2011

Full Bill Text

No bill text available