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SB 122

AN ACT ESTABLISHING A TAX CREDIT FOR EDUCATIONAL ACCESS AND OPPORTUNITY SCHOLARSHIPS.

2025 Regular Session Introduced by Ryan Fazio

SB 122 creates state tax credits for donations to educational scholarship programs, using tax incentives to fund student educational access initiatives in Connecticut.

REF. TO JOINT COMM. ON Finance, Revenue and Bonding
#charitablecontributions #nonprofitorganizations #scholarships #taxcredits
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Bill Summary · SB 122

Legislative bill overview

SB 122 creates a tax credit mechanism to incentivize donations to educational access and opportunity scholarship programs in Connecticut. The bill allows taxpayers to claim credits against their state tax liability for contributions to qualified scholarship funds that support student educational access and opportunity initiatives.

Why is this important

This bill affects both education funding mechanisms and state tax revenue. It attempts to leverage private charitable giving to supplement public education funding while potentially reducing state tax collections, creating a trade-off between expanding scholarship availability and maintaining general tax base revenue.

Potential points of contention

  • Tax revenue impact: The fiscal cost depends on credit utilization rates and whether donors are substituting existing charitable giving or making new contributions, potentially reducing state revenue
  • Equity of access: Tax credits primarily benefit higher-income taxpayers with sufficient tax liability, raising questions about whether this mechanism equitably distributes educational opportunity
  • Accountability and oversight: The bill's effectiveness depends on how "qualified scholarships" are defined and monitored to ensure funds genuinely support intended beneficiaries and don't duplicate existing programs

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

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