Bill Text: CT SB00965 | 2017 | General Assembly | Comm Sub
Bill Title: An Act Concerning A Study Of Business Sectors In The State To Include In An Investment Incentive Program.
Spectrum: Committee Bill
Status: (Introduced - Dead) 2017-05-10 - File Number 745 [SB00965 Detail]
Download: Connecticut-2017-SB00965-Comm_Sub.html
General Assembly |
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January Session, 2017 |
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AN ACT CONCERNING A STUDY OF BUSINESS SECTORS IN THE STATE TO INCLUDE IN AN INVESTMENT INCENTIVE PROGRAM.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (Effective from passage) (a) The chief executive officer of Connecticut Innovations, Incorporated shall conduct a study of business sectors in the state for the purpose of incentivizing venture capital investment in businesses located in the state. Pursuant to such study, said chief executive officer shall identify the types of businesses that said chief executive officer recommends for inclusion in a program to provide a deduction from the personal income tax for such investment. Such business sectors may include, but need not be limited to, businesses engaged in (1) the manufacture of pharmaceuticals, medicines, medical equipment, medical devices and analytical laboratory instruments, (2) the operation of medical or diagnostic testing laboratories, (3) pure research and development in life sciences, (4) the provision of products or services to monitor or improve cybersecurity measures, (5) the provision of data analysis products or services, or (6) software development.
(b) Not later than January 1, 2018, said chief executive officer shall submit a report, in accordance with the provisions of section 11-4a of the general statutes, of the chief executive officer's recommendations to the joint standing committees of the General Assembly having cognizance of matters relating to finance, revenue and bonding and commerce. Such report shall also include a recommended ratio or formula, developed in consultation with the Commissioner of Revenue Services, for the calculation of the amount of the deduction from the personal income tax.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
from passage |
New section |
CE |
Joint Favorable Subst. C/R |
FIN |
FIN |
Joint Favorable Subst. |