LCO No. 1432 1 of 1
General Assembly Proposed Bill No. 755
January Session, 2025
LCO No. 1432
Referred to Committee on HOUSING
Introduced by:
SEN. GORDON, 35th Dist.
AN ACT ESTABLISHING A TAX CREDIT FOR THE CONSTRUCTION
OF RESIDENTIAL UNITS ABOVE RETAIL PROPERTY.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That chapter 208 of the general statutes be amended to establish a tax 1
credit applicable against the corporation business tax for developers 2
who construct residential dwelling units above existing retail property 3
in an amount equivalent to ten per cent of the qualified construction 4
expenditures for each additional floor above the retail property for a 5
maximum of three additional floors. 6
Statement of Purpose:
To establish a tax credit for the construction of dwelling units above
existing retail property.