CT HB05226

Mandates the Commissioner of Economic and Community Development to establish the Learn Here, Live Here program providing tax incentives for state college and university graduates to purchase their first home in Connecticut.

Allows graduates from public institutions of higher education, private universities or colleges, health care training schools, or technical high schools to elect program participation and have up to $2,500 in annual income tax liability segregated into a first-time homebuyers account.

Permits participants to withdraw segregated funds within ten years of graduation to use as down payment on their first home in Connecticut, with a maximum of $1 million total segregated annually across all participants.

Requires participants who leave the state to repay a percentage of funds received based on when they leave (100% if within one year, declining to 0% after five years).

Requires the Commissioner to develop and implement a comprehensive public education program by January 1, 2018, informing recent graduates about the program and home buying information.