Old news - Brain Drain

I wrote this back on the 20th. It is from press release

Senate Bill 34 would provide graduates of Indiana colleges and universities a refundable income tax refund of 5 percent of their tuition and other fees. That refund could be claimed for up to 20 years.

According to the US Department of Education and the Legislative Services Agency, an estimated 50,000 Hoosiers would be eligible for the tax credit in 2008.

Senate Bill 35 would make student loan payments more manageable for graduates by having the State Student Assistance Commission assume 25 percent of the yearly student loan payments on both the principal and interest. This program would be available to those graduating after June 30, 2007.

“If we want to strengthen and grow our economy, we need to get serious about this effort,” said Rogers.

Both Senate Bill 34 and Senate Bill 35 have been referred to the Senate Committee on Tax and Fiscal Policy where they await a hearing.

I was trying to find a comment on Taking Down Words that I thought was just about brilliant. As I recall the gist was that the Governor work the business end - give businesses a credit who locate here and hire our college graduates. I doubt this Senate Bill is going to go over well if we are subsidizing people living in other states.