CT
Connecticut Senate Bill SB00308

Connecticut 2016 Regular Session

Connecticut Senate Bill SB00308 Compare Versions

OldNewDifferences
1-Senate Bill No. 308
1+General Assembly Raised Bill No. 308
2+February Session, 2016 LCO No. 2136
3+ *_____SB00308CE____031616____*
4+Referred to Committee on COMMERCE
5+Introduced by:
6+(CE)
27
3-Special Act No. 16-21
8+General Assembly
49
5-AN ACT CONCERNING THE DEVELOPMENT OF RECOMMENDATIONS FOR A STRANDED RESEARCH AND DEVELOPMENT TAX CREDIT PROGRAM.
10+Raised Bill No. 308
11+
12+February Session, 2016
13+
14+LCO No. 2136
15+
16+*_____SB00308CE____031616____*
17+
18+Referred to Committee on COMMERCE
19+
20+Introduced by:
21+
22+(CE)
23+
24+AN ACT CONCERNING MANUFACTURING-RELATED ISSUES IN THE STATE.
625
726 Be it enacted by the Senate and House of Representatives in General Assembly convened:
827
9-Section 1. (Effective from passage) (a) The Commissioner of Economic and Community Development shall develop legislative recommendations for the establishment of a program that allows businesses in the state to exchange unused research and development tax credits, allowed pursuant to section 12-217n of the general statutes, for financial assistance in support of capital projects in the state that propose to result in any of the following: (1) Expansion of the scale or scope of the business exchanging such unused tax credits, (2) an increase or retention of employment at such business, or (3) generation of a substantial return to the state economy. Such recommendations may include, but need not be limited to: (A) Proposed requirements for such a capital project to qualify for financial assistance under such program, (B) proposed terms for financial assistance under such program, (C) the maximum amount of unused tax credits that may be exchanged for financial assistance, and (D) an analysis of whether to include in such program a requirement that a capital project be anticipated to generate direct and indirect economic benefits to the state that exceed the amount of unused tax credits proposed to be exchanged. The commissioner may consult with the Commissioner of Revenue Services in developing such legislative recommendations.
28+Section 1. (Effective from passage) The Commissioner of Economic and Community Development shall conduct a study relating to manufacturing issues in the state. Not later than January 1, 2017, the commissioner shall submit a report of the results of such study to the joint standing committee of the General Assembly having cognizance of matters relating to commerce, in accordance with the provisions of section 11-4a of the general statutes.
1029
11-(b) Not later than January 1, 2017, the Commissioner of Economic and Community Development shall submit such legislative recommendations to the joint standing committees of the General Assembly having cognizance of matters relating to commerce and finance, revenue and bonding, in accordance with the provisions of section 11-4a of the general statutes.
30+
31+
32+
33+This act shall take effect as follows and shall amend the following sections:
34+Section 1 from passage New section
35+
36+This act shall take effect as follows and shall amend the following sections:
37+
38+Section 1
39+
40+from passage
41+
42+New section
43+
44+
45+
46+CE Joint Favorable
47+
48+CE
49+
50+Joint Favorable