AN ACT INCREASING THE AMOUNTS OF TAX CREDITS ALLOWED AND CLAIMED UNDER THE NEIGHBORHOOD ASSISTANCE ACT.

HB 5555 increases tax credit limits under Connecticut's Neighborhood Assistance Act. It raises the total annual tax credit cap from $5 million to $10 million for all qualifying businesses combined, and raises the maximum credit a single business can claim each year from $150,000 to $250,000. This bill directly affects eligible small businesses operating in designated neighborhood assistance areas who claim these tax credits. The change provides more financial flexibility for businesses participating in the program by allowing higher credit amounts without altering eligibility requirements.