Bill Text: CT SB00328 | 2015 | General Assembly | Introduced

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Bill Title: An Act Concerning A Community Development Tax Credit.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2015-02-11 - Public Hearing 02/19 [SB00328 Detail]

Download: Connecticut-2015-SB00328-Introduced.html

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General Assembly		Proposed Bill No. 328
January Session, 2015		LCO No. 1399
		*01399*
Referred to Committee on COMMERCE
Introduced by:
SEN. FASANO, 34th Dist. SEN. WITKOS, 8th Dist.

AN ACT CONCERNING A COMMUNITY DEVELOPMENT TAX CREDIT.

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

That the general statutes be amended to establish a community development tax credit program to provide tax credits to any person or entity that invests in a start-up company located in a municipality that has a per capita income less than the state-wide average. Additionally, the amount of the tax credit shall equal fifty per cent of each investment up to a maximum of one million dollars per taxpayer with an annual cap of ten million dollars for the program overall.

Statement of Purpose:

To establish a community development tax credit program to support economic development in disadvantaged communities.