CT HB05060

Establishes a tax credit against Connecticut's corporation business tax for businesses donating to scholarships enabling public school students to attend constituent units of the state higher education system

Requires a minimum contribution of $2,500 to qualify, with the credit equal to 10% of any amount donated above the minimum threshold

Limits individual business firm credits to a maximum of $5,000 per income year, with an annual statewide cap of $500,000 across all businesses

Allows unused credits to be carried forward for up to five succeeding income years until fully utilized

Directs the Commissioner of Revenue Services to adopt regulations establishing criteria for qualifying scholarship funds