CT SB00051

Establishes a supplemental funding grant program administered by the Board of Regents for Higher Education to support and expand qualifying advanced manufacturing certificate programs at public institutions of higher education.

Defines qualifying programs as for-credit or noncredit sub-baccalaureate advanced manufacturing certificates where at least 75 percent of graduates are employed in related fields within one year of graduation.

Creates a funding mechanism where the Commissioner of Revenue Services segregates 25 percent of the average annual income tax liability of qualifying program graduates multiplied by the number of employed graduates, depositing these funds into a dedicated advanced manufacturing certificate programs account.

Requires the Board of Regents to annually request income tax data from the Department of Revenue Services and submit annual reports to the legislature detailing fund deposits, graduation and salary data, and grant expenditures by institutions.

Establishes a nonlapsing account within the General Fund to hold segregated income tax revenues and private donations, with investment earnings credited back to the General Fund; effective July 1, 2018.