CT HB05338

Establishes a supplemental funding grant program through the Office of Higher Education for public institutions offering "qualifying certificate programs" with at least 75% graduate employment in their field.

Requires public institutions to apply for grants and document employment rates; the Office of Higher Education verifies applications and requests graduate employment data from the Connecticut Preschool through Twenty and Workforce Information Network.

Directs the Commissioner of Revenue Services to segregate 15% of annual income tax liability from qualifying certificate program graduates starting January 1, 2019, capped at $1 million per calendar year.

Establishes a separate, nonlapsing qualifying certificate program account within the General Fund to receive segregated tax revenue and provide supplemental funding grants to eligible institutions.

Effective July 1, 2018; all segregated funds not used for certificate programs shall transfer to the General Fund, and the State Treasurer shall notify the Office of Higher Education annually of total account deposits.