Proposed Bill No. 5424, introduced in the January Session of 2023, aims to amend the general statutes to establish a tax credit for individuals or entities that make donations to nonprofit organizations providing educational access and opportunity scholarships. The bill has been referred to the Committee on FINANCE, REVENUE AND BONDING and is sponsored by a group of representatives including REP. CANDELORA V., REP. ZUPKUS, REP. O'DEA, and others.

The purpose of this act is to incentivize donations to nonprofit entities that facilitate educational scholarships by offering a tax credit to the donors. This legislative move is intended to support educational access and opportunities for students who may benefit from such scholarships. The bill does not specify the amount or limit of the tax credit, nor does it detail the requirements or qualifications for the nonprofit entities to be eligible to receive such donations.