AN ACT CONCERNING A TAX CREDIT FOR BUSINESSES RELOCATING TO THIS STATE AND PURCHASING PROPERTY HERE.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to provide a tax credit for out-of-state companies that relocate to Connecticut and purchase commercial real estate, where the amount of the tax credit is equal to the amount of the state portion of the real estate conveyance tax that is paid by the seller of the property. The tax credit shall be applied at the time of purchase, and the portion of the real estate conveyance tax paid to municipalities shall not be affected.

Statement of Purpose:

To promote new business and job creation throughout the state.