OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sHB-5300
AN ACT CONCERNING THE INVEST CT FUND PROGRAM.
Primary Analyst: CW 4/7/24
Contributing Analyst(s): EW
Reviewer: MM
OFA Fiscal Note
State Impact: None
Municipal Impact: None
Explanation
The bill, which, expands applicant eligibility under the Invest CT tax
credit program, does not result in any fiscal impact to the state or
municipalities. It does not alter the aggregate $40 million cap on the
amount of credits allowed annually, and current projections (January
16, 2024, Consensus Revenue) assume full credit utilization each fiscal
year.
Additionally, the requirement that the Department of Economic and
Community Development (DECD) report to the Commerce Committee
an analysis of the benefit to and an impact on the state from applicants
approved under the bill can be accomplished at no cost. DECD has the
expertise and resources needed to meet these reporting requirements.
The Out Years
State Impact: None
Municipal Impact: None