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CT SB00532
Bill
Status
Introduced
3/28/2018
Primary Sponsor
Finance, Revenue and Bonding Committee
Click for details
AI Summary
- Establishes a tax credit for employers who make education loan payments on behalf of qualified employees who work as computer programmers or software developers in the state, effective January 1, 2019
- Credit amount equals the actual monthly loan payment made by the employer multiplied by the number of months during the tax year the employer made payments while the employee worked in the state
- Eligible loans must be part of the employee's financial aid package from higher education institutions; refinanced or consolidated loans qualify if kept separate from non-educational debt
- Part-time employees (working less than 32 hours per week) qualify for only 50% of the credit; employers cannot claim credit for months when the employee was not employed
- Unused credits may be carried forward for up to ten succeeding years, and employers must provide documentation as required by the Commissioner of Revenue Services
Legislative Description
An Act Establishing A Tax Credit For Employers Making Education Loan Payments For Computer Programmer And Software Developer Employees.
Last Action
File Number 630
4/23/2018
Committee Referrals
Finance, Revenue and Bonding3/28/2018
Full Bill Text
No bill text available