Page 561

House Bill No. 5506

Public Act No. 22-118 561 of 739

Sec. 419. Section 12-217qq of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage and applicable to calendar and income years commencing on or after January 1, 2022): (a) As used in this section: (1) "Authority" means the Connecticut Higher Education Supplemental Loan Authority; (2) "Commissioner" means the Commissioner of Revenue Services; [(2)] (3) "Eligible education loan" means [a loan issued by the authority to an individual to refinance one or more student loans] an authority loan, as defined in section 10a-223, that is in repayment; [(3)] (4) "Full-time" means required to work at least thirty-five hours per week; [(4)] (5) "Qualified employee" means an individual who (A) is a resident of the state, (B) has earned his or her first bachelor's degree from an institution of higher education in the immediately preceding five- year period, (C) is employed full-time in the state by a qualified employer, (D) is not an owner, member or partner of such qualified employer or a family member of an owner, member or partner of such qualified employer, and (E) has received an eligible education loan; [(5)] (6) "Qualified employer" means a corporation licensed to operate a business in the state that is subject to tax under this chapter or chapter 207; and [(6) "Student loan" means any loan in repayment that was issued by (A) the authority, or (B) any other private or governmental lender to finance attendance at an institution of higher education] (7) "Qualified small business" means a qualified employer that has