CT SB00078

Establishes the Learn Here, Live Here program to provide tax incentives for graduates of public institutions of higher education, private universities or colleges, health care training schools, or regional vocational-technical schools in Connecticut to purchase their first home in the state.

Allows eligible graduates (from January 1, 2014 onward) to segregate up to $2,500 annually in income tax liability into the Connecticut first-time homebuyers account, with a statewide cap of $1 million per calendar year.

Permits participants to withdraw segregated funds within ten years of graduation for down payments on their first home purchase in Connecticut.

Establishes repayment obligations if participants leave the state: 100% repayment within one year, declining to 20% repayment within five years, with no repayment obligation after five years.

Requires the Commissioner of Economic and Community Development to develop a public education program by December 1, 2012, to inform recent graduates about the program and related topics like savings plans and home purchasing.