Bill offers tax credits to R.I. graduates who stay in Ocean State

PROVIDENCE – Rep. Christopher R. Blazejewski, D-Providence, is proposing legislation that would give tax credits on student-loan payments to graduates of Rhode Island-based colleges and universities, as long as they continue to live and work in the Ocean State after graduation.
The bill, H 5487, also would make companies eligible for the credit on corporate tax if they chose to help employees repay the loans.
Blazejewski said the measure, which he dubbed Opportunity RI, is intended to attract employers to Rhode Island while making college more affordable.
“Given our state’s economic hardships, we need to focus on ways to retain Rhode Island’s college graduates, bolster our skilled work force and make our state more attractive to innovative employers who will bring good jobs with good wages,” Blazejewski said.
Under the measure, 2011 graduates would be eligible for a tax credit on up to $8,900 of loan principal for those who earned a bachelor’s degree – and $3,700 for associate degree earners – multiplied by the number of years of full-time school it took to obtain the degree. &#8226