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HB 5146

AN ACT CONCERNING A PERSONAL INCOME TAX CREDIT FOR CERTAIN COLLEGE GRADUATES WITH STEM DEGREES.

2025 Regular Session Introduced by Dave Yaccarino

Connecticut proposes income tax credit for STEM degree holders to retain skilled graduates and strengthen workforce competitiveness in high-demand fields.

REF. TO JOINT COMM. ON Finance, Revenue and Bonding
#academicdegrees #incometaxcredits(state)
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Bill Summary · HB 5146

Legislative bill overview

HB 5146 proposes to establish a personal income tax credit for Connecticut residents who have earned STEM (Science, Technology, Engineering, Mathematics) degrees. The bill aims to incentivize talent retention and workforce development in high-demand fields by providing financial relief to recent college graduates. The specific credit amount, eligibility criteria (graduation timing, degree requirements, income thresholds), and duration of the benefit have not been detailed in the bill summary provided.

Why is this important

Connecticut, like many states, faces competition for skilled workers in STEM fields, with many graduates relocating to other states for economic opportunities. A tax credit could improve workforce retention, strengthen the state's innovation economy, and potentially reduce student debt burden for targeted graduates. This directly affects Connecticut's economic competitiveness and tax base, as retaining educated workers generates long-term economic benefits.

Potential points of contention

  • Fiscal impact and targeting: The cost to the state budget is unclear—the credit could be expensive depending on eligibility thresholds, potentially requiring revenue offsets or affecting other programs
  • Definition and scope of "STEM": Determining which degrees qualify (computer science vs. biology vs. engineering technology) affects who benefits and administrative complexity
  • Fairness concerns: Tax credits benefiting only STEM graduates may be criticized as inequitable to graduates in other fields (humanities, education, healthcare) who also face economic challenges and contribute to workforce needs

Compiled from official sources — confirm details with the bill’s official record.

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