| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | LCO No. 219 1 of 1 | |
| 4 | 4 | ||
| 5 | 5 | General Assembly Proposed Bill No. 120 | |
| 6 | 6 | January Session, 2025 | |
| 7 | 7 | LCO No. 219 | |
| 8 | 8 | ||
| 9 | 9 | ||
| 10 | 10 | Referred to Committee on FINANCE, REVENUE AND | |
| 11 | 11 | BONDING | |
| 12 | 12 | ||
| 13 | 13 | ||
| 14 | 14 | Introduced by: | |
| 15 | 15 | SEN. CICARELLA, 34th Dist. | |
| 16 | 16 | ||
| 17 | 17 | ||
| 18 | 18 | ||
| 19 | 19 | AN ACT CONCERNING THE FIXED CAPITAL TAX CREDIT. | |
| 20 | 20 | Be it enacted by the Senate and House of Representatives in General | |
| 21 | 21 | Assembly convened: | |
| 22 | 22 | ||
| 23 | 23 | That section 12-217w of the general statutes be amended to (1) 1 | |
| 24 | 24 | increase the amount of the fixed capital tax credit to twenty-five per cent 2 | |
| 25 | 25 | for new fixed capital investment for income years commencing on or 3 | |
| 26 | 26 | after January 1, 2027, and (2) expand the definition of "fixed capital" to 4 | |
| 27 | 27 | include (A) nonresidential buildings and structures placed in service in 5 | |
| 28 | 28 | accordance with Section 168(e) of the Internal Revenue Code, and (B) in 6 | |
| 29 | 29 | areas zoned for industrial or agricultural use, construction costs of 7 | |
| 30 | 30 | nonresidential buildings or structures and improvements to land, such 8 | |
| 31 | 31 | as water lines, electrical lines, irrigation systems and other 9 | |
| 32 | 32 | infrastructure. 10 | |
| 33 | 33 | Statement of Purpose: | |
| 34 | 34 | To increase the amount of the fixed capital tax credit to twenty-five per | |
| 35 | 35 | cent and expand the definition of "fixed capital" to include | |
| 36 | 36 | nonresidential buildings and structures, and certain construction costs | |
| 37 | 37 | and improvements to land in areas zoned for industrial or agricultural | |
| 38 | 38 | use. |