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.
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.