OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-1095
AN ACT EXPANDING THE ANGEL INVESTOR TAX CREDIT
PROGRAM TO SOCIAL EQUITY APPLICANTS.
Primary Analyst: CW 5/7/21
Contributing Analyst(s):
Reviewer: MM
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 22 $ FY 23 $
Revenue Serv., Dept. GF - Revenue
Loss
Up to 15
million
Up to 15
million
Note: GF=General Fund
Municipal Impact: None
Explanation
The bill, which extends the angel investor tax credit program to
eligible cannabis businesses, results in a General Fund revenue loss of
up to $15 million annually in FY 22, FY 23, and FY 24 only.
The Out Years
The annualized ongoing fiscal impact identified above would
continue through FY 24, after which the program sunsets.