Bill Text: CT HB05393 | 2015 | General Assembly | Introduced

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Bill Title: An Act Expanding The Learn Here, Live Here Program.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-01-15 - Referred to Joint Committee on Commerce [HB05393 Detail]

Download: Connecticut-2015-HB05393-Introduced.html

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General Assembly		Proposed Bill No. 5393
January Session, 2015		LCO No. 755
		*00755*
Referred to Committee on COMMERCE
Introduced by:
REP. MULLIGAN, 55th Dist.

AN ACT EXPANDING THE LEARN HERE, LIVE HERE PROGRAM.

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

That chapter 578 of the general statutes, which authorizes the establishment of the Learn Here, Live Here program, be amended to (1) increase the total annual amount that may be segregated from the income tax liability of all program participants from one million dollars to ten million dollars, (2) change the name of the Connecticut first-time homebuyers account to the Learn Here, Live Here account, (3) allow program participants to segregate one hundred per cent of their income tax liability to the Learn Here, Live Here account, and (4) allow program participants to apply Learn Here, Live Here funds to the payment of student loans or the formation of a new business in the state in addition to the purchase of their first home.

Statement of Purpose:

To expand the Learn Here, Live Here program by increasing the amount that may be paid into the program and allowing funds from that program to be applied to the payment of student loans or the formation of a new business, in addition to the purchase of a first home.