SB 51 — AN ACT CONCERNING THE FUNDING AND EXPANSION OF CERTAIN ADVANCED MANUFACTURING CERTIFICATE PROGRAMS.

AN ACT CONCERNING THE FUNDING AND EXPANSION OF CERTAIN ADVANCED MANUFACTURING PROGRAMCERTIFICATE PIPELINES.PROGRAMS.

51 February Session, 2018   *_____SB00051HEDFIN031918____**_____SB00051FIN___040618____* AN ACT CONCERNING THE FUNDING AND EXPANSION OF CERTAIN ADVANCED MANUFACTURING PROGRAMCERTIFICATE PIPELINES.PROGRAMS.

(1) "Public institution of higher education" means the institutions of higher education identified in subdivisionssubdivision (1) and (2) of section 10a-1 of the general statutes;

(b) The Board of Regents for Higher Education shall establish a program to provide supplemental funding grants to public institutions of higher education for the support and expandexpansion of qualifying advanced manufacturing certificate programs.programs offered by such institutions.

An application shall include, but need not be limited to, documentation substantiating the employment rate of the graduates of the qualifying advanced manufacturing certificate programsprogram and an explanation of how suchthe institutionsinstitution will use suchthe supplemental funding grant to support or expand itsthe qualifying advancingadvanced manufacturing certificate programs.program.

An institution that receives a supplemental funding grant under this section shall use such grant for the purpose of supporting andor expanding itsthe qualifying advanced manufacturing certificate programs.program.

(d) Not later than July 1, 2019, and annually thereafter, the Board of Regents for Higher Education shall submit a request to the Department of Revenue Services to segregate, in accordance with the provisions of section 2 of this act, a portion of the average income tax liability of graduates of qualifying advanced manufacturing certificate programs thatwho are employed in a field related to or requiring such certificate in the year following such students' graduation.

ForTo purposesassist the Department of Revenue Services in calculating the amount of income tax liability to be segregated, the board shall provide the department with the following data:

(e) Not later than March 1, 2020, and annually thereafter, the Board of Regents for Higher Education shall submit a report, in accordance with the provisions of section 11-4a of the general statutes, to the joint standing committee of the General Assembly having cognizance of matters relating to higher education and employment advancement regarding the supplemental funding grantsgrant program for qualifying advanced manufacturing certificate programs.

Such report shall include, but need not be limited to, the amount of funds deposited in the advanced manufacturing certificate programs account established pursuant to section 3 of this act, the graduation and salary data described in subsection (d) of this section, how the public institutions of higher education thathave receivedexpended supplemental funding grants have expended such funds and any recommendations for expansion of the supplemental funding grantsgrant program.

(NEW) (Effective July 1, 2018) For purposes of the supplemental funding grantsgrant program for qualifying advanced manufacturing certificate programs established pursuant to section 1 of this act, for the taxable year commencing on or after January 1, 2019, and each taxable year thereafter, the Commissioner of Revenue Services shall use the qualifying advanced manufacturing certificate programs data provided by the Board of Regents for Higher Education pursuant to subsection (d) of section 1 of this act to calculate and segregate an amount equal to twenty-five per cent of the average annual income tax liability of graduates of qualifying advanced manufacturing certificate programs for the preceding ten-year period multiplied by the total number of graduates of such programs for the prior fiscal year that are employed in a field related to or requiring such certificatecertificate. for the prior fiscal year.

(NEW) (Effective July 1, 2018) There is established an Advancedadvanced Manufacturingmanufacturing Certificatecertificate Programsprograms account which shall be a separate, nonlapsing account within the General Fund.

The moneys in said account shall be expended by the board for the purpose of providing supplemental funding grants,grants pursuant to section 1 of this act, to public institutions of higher education that offer qualifying advanced manufacturing certificate programs.programs pursuant to section 1 of this act.

3 July 1, 2018 New section HEDStatement Jointof FavorableLegislative Subst.Commissioners:

C/RIn FINSection 1, "subdivisions (1) and (2)" was changed to "subdivision (2)" in Subsec.

(a) for internal consistency, and Subsecs.

(b), (c) and (e) were reworded for accuracy and clarity;

in Section 1(d), "For purposes of" was changed to "To assist the Department of Revenue Services in" for clarity;

in Section 2, "for the preceding ten-year period" was added and "for the prior fiscal year" was moved for consistency with Section 1(d);

in Section 3, "pursuant to section 1 of this act" was moved and "advanced manufacturing" was added for clarity;

and throughout the bill, "supplemental funding grants program" was changed to "supplemental funding grant program" for clarity.

HED Joint Favorable Subst.

C/R FIN FIN Joint Favorable Subst.-LCO