AN ACT CONCERNING INFORMATION FROM ENTITIES PARTICIPATING IN TAX CREDIT PROGRAMS.

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

That the general statutes be amended to require the Commissioner of Revenue Services to provide a report to the Business Tax Credit Review Committee that includes the following information about each entity participating in a tax credit program: (1) Name and address; (2) business activities and taxes paid on income from such activities; (3) the tax credit program used and the amount of the credit taken; (4) gross revenues and number of employees; (5) job creation or retention resulting from the use of such credit; (6) new or increased revenues to the state or local tax base from use of such credit; and (7) the amount of investment from nonstate sources that have been leveraged by such credit.

Statement of Purpose:

To provide information on the performance and efficacy of tax credits.