CT SB00652

Taxpayers donating to the Roberta B. Willis Scholarship program through the Office of Higher Education receive a tax credit equal to 40% of donations, effective for income years beginning January 1, 2021.

Individual tax credit is capped at $60,000 per year and requires a minimum donation of $500 to qualify for any credit.

Total credits allowed statewide cannot exceed $16 million in the first year and $32 million annually thereafter.

Establishes a separate, nonlapsing donation account within the General Fund to receive and manage donations for the scholarship program.

Modifies the Roberta B. Willis Scholarship program to fund need and merit-based grants (20-30% of available funds), need-based grants (up to 80%), and Charter Oak grants (minimum $100,000) using both appropriations and donation account funds.