CT HB06758

Establishes a tax credit program effective January 1, 2017, allowing businesses to claim $500 per month for each qualifying employee hired after January 1, 2017.

Defines qualifying employees as recent graduates (within 3 years) from Connecticut public or private institutions of higher education who are hired as new full-time employees (minimum 35 hours per week for 48 weeks annually).

Requires businesses to create minimum new jobs based on current workforce size: at least 1 new job for businesses with ≤50 employees, 5 new jobs for those with 51-100 employees, and 10 new jobs for those with >100 employees.

Caps total credits granted statewide at $1 million per fiscal year and requires Commissioner of Economic and Community Development approval before credits can be claimed.

Credits cannot exceed the taxpayer's actual tax liability, must be claimed in the year earned, and cannot be combined with other tax credits for the same employee.