Bill Text: CT HB05301 | 2011 | General Assembly | Introduced

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Bill Title: An Act Establishing A Corporation Business Tax Credit For Contributions To Scholarship Funds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-01-18 - Referred to Joint Committee on Finance, Revenue and Bonding [HB05301 Detail]

Download: Connecticut-2011-HB05301-Introduced.html

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General Assembly		Proposed Bill No. 5301
January Session, 2011		LCO No. 223
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
REP. GROGINS, 129th Dist. (By Request)

AN ACT ESTABLISHING A CORPORATION BUSINESS TAX CREDIT FOR CONTRIBUTIONS TO SCHOLARSHIP FUNDS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to provide a tax credit against the corporation business tax for businesses that donate money for scholarships for students from low-income families to attend private schools. The credit would be equal to ten per cent of the amount of any donation that is more than two thousand five hundred dollars per year, with a limit of not more than five thousand dollars in tax credits awarded to any one business per year, and total state-wide credits limited to five hundred thousand dollars per year.

Statement of Purpose:

To provide a credit against the corporation business tax for businesses donating more than $2,500 to scholarships that help students from low-income families attend private schools.