(a) The Commissioner of Economic and Community Development, in consultation with the Commissioner of Revenue Services and the president of the Connecticut State Colleges and Universities, may establish the Learn Here, Live Here program. Such program may provide an incentive for graduates of a public institution of higher education, private university or college, or health care training school in this state, or graduates from a technical education and career school, to buy a first home in the state. Persons who graduate on or after January 1, 2014, from such institutions, universities, colleges or schools may have their income tax liability, up to a maximum of two thousand five hundred dollars annually, segregated into the Connecticut first-time homebuyers account established pursuant to section 32-4j, provided not more than one million dollars from all program participants may be so segregated in any calendar year. After a period not exceeding ten years after graduation, any amounts so segregated may be withdrawn by a participant for the purchase of a first home in the state. The Commissioner of Economic and Community Development may make payments in accordance with this section from said fund to the participants. For the purposes of this section, “health care training school” means a medical or dental school, chiropractic college, school or college of optometry, school or college of chiropody or podiatry, school of occupational therapy, hospital-based occupational school, school or college of naturopathy, school of dental hygiene, school of physical therapy or any other school or institution giving instruction in the healing arts.
(b) (1) After a period not exceeding ten years after the date of graduation, a participant in the program established pursuant to subsection (a) of this section may apply to the Commissioner of Economic and Community Development for a payment to be issued, on behalf of such participant, and used as the down payment on a house, which must be the first house such participant has bought, either singly or jointly. Such payment may be in an amount equal to the amount of segregated funds deposited on behalf of such participant. If the payment is less than such amount, any excess amount shall be deposited in the General Fund.
(2) If a participant ceases to live in the state at any time up to one year after such date, such participant shall repay one hundred per cent of the amount paid out. If a participant ceases to live in the state at any time up to two years after such date, such participant shall repay eighty per cent of the amount paid out. If a participant ceases to live in the state at any time up to three years after such date, such participant shall repay sixty per cent of the amount paid out. If a participant ceases to live in the state at any time up to four years after such date, such participant shall repay forty per cent of the amount paid out. If a participant ceases to live in the state at any time up to five years after such date, such participant shall repay twenty per cent of the amount paid out. After five years, there is no repayment obligation. Any amounts repaid under this subdivision shall be deposited in the General Fund.
(c) On or before December 1, 2012, the Commissioner of Economic and Community Development may develop, within available appropriations, a comprehensive public education program to educate recent graduates of a public institution of higher education, private university or college, or health care training school in the state, or of a technical education and career school, about the program established under this section for first-time home buyers. The public education program shall include, but not be limited to, information concerning life-time savings plans and information on the purchase of a home. If the commissioner develops such public education program, the department shall begin to implement such program not later than January 1, 2014.
(P.A. 11-48, S. 285; 11-140, S. 30; P.A. 12-75, S. 1; 12-116, S. 87; P.A. 16-15, S. 39; P.A. 17-237, S. 108.)
History: P.A. 11-140 effective July 1, 2011; pursuant to P.A. 11-48, “Commissioner of Higher Education” was changed editorially by the Revisors to “president of the Board of Regents for Higher Education”, effective July 1, 2011; P.A. 12-75 added “private university or college, or health care training school” and deleted “who qualified as in-state students and paid the in-state tuition rate” in Subsecs. (a) and (c) and, in Subsec. (a), defined “health care training school” and made conforming changes, effective June 6, 2012; pursuant to P.A. 12-116, “regional vocational-technical school” was changed editorially by the Revisors to “technical high school”, effective July 1, 2012; P.A. 16-15 amended Subsec. (a) by replacing “president of the Board of Regents for Higher Education” with “president of the Connecticut State Colleges and Universities”, effective July 1, 2016; P.A. 17-237 replaced “technical high school” with “technical education and career school” in Subsecs. (a) and (c), effective July 1, 2017.
Structure Connecticut General Statutes
Title 32 - Commerce and Economic and Community Development
Chapter 578 - Department of Economic and Community Development
Section 32-1a. - Short title: State Commerce Act.
Section 32-1b. - Department of Economic and Community Development established.
Section 32-1c. - Powers and duties of commissioner.
Section 32-1d. - Deputy commissioner, appointment and functions.
Section 32-1e. - Plan for support and promotion of industries using recycled materials.
Section 32-1n. - Reports re funding for economic and industry cluster initiatives.
Section 32-1o. - State economic strategic plan.
Section 32-1p. - Powers and duties re digital media and motion picture activities.
Section 32-1r. - Report on business tax credit and abatement programs.
Section 32-1s. - Powers and duties re culture and tourism.
Section 32-1v. - Small business hotline.
Section 32-2 and 32-2a. - Expenses; director. Bonding of commission members and employees.
Section 32-3. - Duties of department; Connecticut Innovations, Incorporated.
Section 32-4a. - Assistance to Connecticut Economic Resource Center, Incorporated.
Section 32-4b. - State Economic Development Advisory Board.
Section 32-4e. - “Economic cluster” defined.
Section 32-4g. - Economic cluster report by the Commissioner of Economic and Community Development.
Section 32-4h. - Economic cluster bond funds report.
Section 32-4i. - Learn Here, Live Here program.
Section 32-4j. - Connecticut first-time homebuyers account.
Section 32-4k. - Learn Here, Live Here program. Segregation of income taxes.
Section 32-4l. - First five plus program.
Section 32-4o. - Bond authorization for grants.
Section 32-4p. - Requests for proposals and competitive grant program re major projects.
Section 32-4r. - Youth Service Corps grant program.
Section 32-4s. - Local Youth Service Corps program requirements.
Section 32-5b. - Deadlines for approval or disapproval of applications for financial assistance.
Section 32-6. - Connecticut building at Eastern States Exposition.
Section 32-6h. - One-stop business licensing center.
Section 32-6i. - Connecticut Economic Information System Steering Committee.
Section 32-6j. - Assistance of Labor Commissioner in job-training activities.
Section 32-6k. - Impact statements submitted to the Connecticut Transportation Strategy Board.
Section 32-6m. - Promotion of products produced in Connecticut.
Section 32-6n. - Electronic business portal.
Section 32-6u. - Connecticut antiques trail. Promotional program.
Section 32-6w. - Display of temporary signage or flags by business on Connecticut antiques trail.
Section 32-7e. - Regional Economic Development Assistance Revolving Fund.
Section 32-7f. - Economic development grants program.
Section 32-7g. - Small Business Express program.
Section 32-7h. - Small business express assistance account.
Section 32-7n. - Manufacturing Innovation Advisory Board.
Section 32-7p. - Technology Talent Advisory Committee. Membership. Duties. Pilot programs. Report.
Section 32-7q. - Minority Business Initiative Advisory Board. Duties. Membership.
Section 32-7r. - Regional economic development matching grant pilot program.
Section 32-8. - Administration of federal funds.
Section 32-8a. - Registry of electronic commerce and information technology intensive companies.
Section 32-8b. - Cooperative internship program.
Section 32-8c. - Connecticut Young Adult Conservation Corps program. Set-asides. Reports.
Section 32-9. - Right of local redevelopment agencies to contract with federal government.
Section 32-9aa and 32-9bb. - Loans for the repair of dams. Regulations.
Section 32-9c. - Transfer of powers and duties of the Connecticut Development Commission.
Section 32-9d. - Transfer of personnel and properties.
Section 32-9dd. - Transfer of remediated brownfields.
Section 32-9i. - Job incentive grant program for businesses in areas of high unemployment.
Section 32-9k. - Business facilities qualified for job incentive grants.
Section 32-9l. - Determination of grant amounts. Regulations.
Section 32-9n. - Office of Small Business Affairs.
Section 32-9o. - Industrial growth in areas of high unemployment. Legislative determination.
Section 32-9qq. - Business outreach center challenge grants. Eligibility of greenways projects.
Section 32-9tt. - Funding for businesses new to exporting.
Section 32-9u. - Use of North American Industrial Classification codes.
Section 32-9uu. - Program to increase entrepreneurial potential in the inner cities.
Section 32-9vv. - Connecticut Hydrogen-Fuel Cell Coalition.
Section 32-9w. - Evaluation of impact of development project on the environment. Procedure.
Section 32-9ww. - Fuel cell economic development plan. Reports.
Section 32-9xx. - Small Business Advisory Board.
Section 32-9yy. - Connecticut Credit Consortium. Small business assistance account.