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Panel hears bill to create college graduate retention rebate; fiscal mechanics questioned
Summary
The House Education Funding Committee heard HB 659, a proposal to create a graduate retention incentive aimed at keeping New Hampshire college graduates in-state, but state financial analysts asked for clearer drafting on whether the benefit is a rebate or a tax credit, how it would be capped and who would administer it.
The House Education Funding Committee took testimony on HB 659, a bill to establish a New Hampshire College Graduate Retention Incentive Program intended to encourage recent college graduates to remain and work in the state.
DRA senior financial analyst Lauren O’Sullivan told the panel the legislation is unclear on a number of technical points, chiefly whether the hiring incentive operates as a rebate or as a tax credit. "A rebate ... results in the state issuing a check once a claim is approved," O'Sullivan said, contrasting that with credits that reduce tax liability on a return…
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