AN ACT CONCERNING THE TAX CREDIT FOR MACHINERY AND EQUIPMENT.

SB 101 creates a 50% tax credit for Connecticut corporations that purchase and install qualifying machinery and equipment in state facilities. It directly affects businesses operating in Connecticut that invest in new equipment, removing previous employee-count restrictions. The credit requires the equipment to be used in the facility for a minimum of five years; if not, the full credit amount must be repaid to the state. This replaces the existing machinery/equipment tax credit with these specific terms.