Researcher: RP Page 1 4/3/25
OLR Bill Analysis
SB 575
AN ACT EXPANDING A BIOSCIENCE ENTERPRISE CORRIDOR
ZONE LOCATED IN THE TOWN OF PLAINVILLE.
SUMMARY
This bill expands the existing bioscience enterprise corridor zone in
Plainville to include all of a specified census block, rather than just 53
acres zoned for a technology park in the same census tract (i.e. census
tract 420700, block 2000, as designated in the 2020 federal decennial
census). In doing so, it expands the area in which eligible businesses and
eligible commercial property may qualify for enterprise zone benefits
(see BACKGROUND).
Under the bioscience enterprise corridor zone law, a business is
eligible for these benefits if it (1) had fewer than 300 employees at any
time during the previous 12 months and (2) is in bioscience,
biotechnology, pharmaceutical, or photonics research, development, or
production. A commercial property is eligible if it is (1) one that an
eligible business has owned or leased and continuously used during the
previous 12 months or (2) real property certified as newly constructed
or substantially renovated and expanded primarily for occupancy by
one or more eligible businesses.
EFFECTIVE DATE: Upon passage
BACKGROUND
Enterprise Zone Benefits
Enterprise zone benefits are generally available to businesses that
start up in or improve real property there. They include the following:
1. five-year, 80% property tax exemption for acquiring, building,
renovating, or expanding a qualifying manufacturing facility and
acquiring machinery and equipment for these facilities (CGS § 2025SB-00575-R000480-BA.DOCX
Researcher: RP Page 2 4/3/25
12-81(59) & (60)); and
2. seven-year fixed assessment for qualifying commercial and
residential real property improvements (CGS § 32-71).
The state generally reimburses municipalities for half the forgone
property tax revenue for the partial property tax exemptions, depending
on available funding (CGS § 32-9s).
Related Bill
SB 1457, favorably reported by the Commerce Committee, establishes
an airport development zone in Plainville comprising nine specified
census blocks. Businesses located in airport development zones may
receive certain enterprise zone benefits.
COMMITTEE ACTION
Commerce Committee
Joint Favorable
Yea 20 Nay 0 (03/18/2025)