Budget & Taxes (Tax Credits)

in committee · Connecticut · House Apr 16, 2026

HB 5570: AN ACT CONCERNING A TAX CREDIT FOR MILK PRODUCERS.

This bill creates a refundable tax credit for milk producers in Connecticut when the federal pay price for milk falls below the minimum sustainable monthly cost of production. The credit allows producers to receive a dollar-for-dollar reduction in their state taxes for each month the milk price is insufficient to cover production costs, based on the volume of milk they produce. The legislation applies to individual producers, as well as business entities like partnerships and S corporations, and includes a cap of eight million dollars in total credits per calendar year. If the total credits claimed exceed the annual limit, refunds will be distributed proportionally among eligible producers. The credit is effective starting January 1, 2027, and applies to income and taxable years beginning on or after that date.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax credit to milk producers, reducing their tax burden and supporting agricultural industry through fiscal relief.85% confidence

Sub-Topics Tax Credits

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in committee · Connecticut · House Apr 20, 2026

HB 5571: AN ACT ESTABLISHING A TAX CREDIT FOR QUALIFIED OPERATORS AND A WORKING GROUP TO EXAMINE MARKET-BASED SOURCING FOR CERTAIN INVESTMENT ASSETS INCOME AND CONCERNING THE ANGEL INVESTOR TAX CREDIT AND THE DEFINITIONS FOR CERTAIN TAX CREDITS.

This bill creates a tax credit for the operator of PeoplesBank Arena in Hartford, providing up to $5 million annually for income years starting in 2026 if the operator signs a long-term agreement to host at least 15 state-sponsored events each year. It also establishes a working group to study how Connecticut taxes investment income for financial institutions and updates definitions for the Angel Investor Tax Credit to clarify who qualifies as an angel investor and what types of businesses are eligible. The working group will include state officials and legislative committee chairs, and it must submit its findings by January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax credit funding for state-sponsored events and clarifies tax credit definitions, advancing fiscal management and investment incentives.75% confidence

Sub-Topics Tax Credits

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in committee · Connecticut · House Mar 23, 2026

HB 5569: AN ACT CONCERNING A SMALL BUSINESS TAX CREDIT FOR QUALIFIED LOCAL MEDIA ADVERTISING EXPENSES.

This bill creates a five-year tax credit for small businesses in Connecticut that spend money on advertising with local newspapers, radio stations, or television stations. The program is designed to help small businesses with 50 or fewer employees support local news organizations by allowing them to receive a percentage of their advertising expenses as a tax credit. Small businesses can claim 80% of qualifying expenses in the first year, with the credit amounting to up to $5,000, and 50% of expenses in subsequent years, capped at $2,500 per year. The legislation defines eligible local media outlets as publications that primarily serve local communities, employ local journalists, and meet specific size and ownership restrictions.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax credits to small businesses, reducing their tax burden and promoting local economic activity through fiscal incentives.85% confidence

Sub-Topics Business Taxes Tax Credits Tags Small Business

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in committee · Connecticut · House Feb 11, 2026

HB 5195: AN ACT ESTABLISHING A TAX CREDIT FOR BUSINESSES THAT INSTALL A MEADOW IN LIEU OF A LAWN.

HB 5195 creates a tax credit for businesses that replace traditional lawns with native meadow landscapes on their properties. This policy directly affects commercial property owners who choose this alternative landscaping option. The bill establishes a financial incentive by allowing qualifying businesses to reduce their state tax liability based on the installation cost of the meadow. The provision aims to promote eco-friendly land management without specifying credit amounts or eligibility thresholds.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit for businesses, providing tax relief to incentivize eco-friendly landscaping, directly supporting tax policy incentives.95% confidence ✓ EnvironmentSupports EnvironmentIncentivizes native meadow installation to conserve water, support biodiversity, and reduce maintenance needs - directly advancing conservation goals through financial incentives.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Public Lands

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in committee · Connecticut · House Apr 16, 2026

HB 5114: AN ACT ESTABLISHING A REFUNDABLE CREDIT AGAINST THE PERSONAL INCOME TAX FOR A PORTION OF ANNUAL RENT PAYMENTS MADE BY A TAXPAYER FOR A PRIMARY RESIDENCE IN THE STATE.

HB 5114 would create a refundable tax credit for renters in the state who pay personal income tax. It allows eligible renters to claim a credit equal to a portion of their rent payments for a primary residence, based on the property tax assessed on that rental property. This credit directly reduces the renter's tax liability and, because it's refundable, could provide a cash refund even if the renter owes no tax. The bill affects renters with primary residences in the state who pay income tax, targeting those whose rent payments correlate with the property tax burden on their landlord's property.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates refundable tax credit reducing renter's tax liability, providing direct relief to eligible renters - aligns with tax relief for lower/middle income.90% confidence ✓ HousingSupports HousingCreates refundable tax credit reducing rent costs for primary residence renters, directly increasing housing affordability for eligible tenants.95% confidence

Sub-Topics Business Taxes Income Tax Tax Credits Landlords Renters Tenant Rights

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in committee · Connecticut · Senate Feb 9, 2026

SB 97: AN ACT ESTABLISHING A CREDIT AGAINST THE PERSONAL INCOME TAX FOR DONATED FOOD.

SB 97 creates a personal income tax credit equal to 25% of the value of food donated by taxpayers during a taxable year. This credit directly affects individuals and businesses that donate food to eligible recipients (such as charities or food banks). The key mechanism is a dollar-for-dollar reduction in tax liability based on the donated food's value, calculated annually. The bill aims to incentivize food donations by making them financially beneficial for donors without altering existing tax rates or creating new requirements for recipients.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 25% personal income tax credit for food donations, providing direct tax relief to donors and incentivizing charitable contributions, aligning with tax relief indicators.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Connecticut · Senate Feb 4, 2026

SB 42: AN ACT ESTABLISHING A MEDICARE PREMIUMS TAX CREDIT AGAINST THE PERSONAL INCOME TAX.

SB 42 creates a tax credit that allows taxpayers to reduce their personal income tax bill by the amount paid for Medicare and Medicare Advantage plan premiums. This directly affects individuals who pay Medicare premiums and file personal income tax returns. The credit applies to premiums paid during a taxable year and lowers the taxpayer's overall income tax liability. The bill does not change Medicare eligibility or premium amounts but provides a direct tax benefit for those already paying for Medicare coverage.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing personal income tax for Medicare premium payers, offering direct tax relief to eligible individuals.95% confidence ✓ HealthcareSupports HealthcareProvides tax credit for Medicare premiums, reducing out-of-pocket costs for beneficiaries and improving healthcare affordability within public coverage framework.95% confidence

Sub-Topics Income Tax Tax Credits Insurance Medicare

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in committee · Connecticut · Senate Feb 17, 2026

SB 212: AN ACT ESTABLISHING A TAX CREDIT FOR PREMIUM PAYMENTS FOR CERTAIN LONG-TERM CARE INSURANCE POLICIES.

SB 212 creates a tax credit for individuals and groups purchasing long-term care insurance policies. It credits policyholders for any annual premium increase exceeding 2% of their total premium cost, allowing them to offset future tax liability with unused credits. This directly affects long-term care insurance buyers by reducing their out-of-pocket costs when premiums rise significantly. The credit is calculated annually and can be carried forward to offset taxes in subsequent years.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for long-term care insurance premiums, reducing taxpayer liability through annual credit for premium increases exceeding 2%.90% confidence ✓ HealthcareSupports HealthcareBill reduces out-of-pocket costs for long-term care insurance, expanding access to healthcare coverage by making premiums more affordable for policyholders.90% confidence

Sub-Topics Procurement Tax Credits Insurance Long-Term Care

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signed · Connecticut · Senate May 26, 2026

SB 1: AN ACT MAKING ADJUSTMENTS TO THE STATE BUDGET FOR THE BIENNIUM ENDING JUNE 30, 2027, MAKING DEFICIENCY APPROPRIATIONS FOR THE FISCAL YEAR ENDING JUNE 30, 2026, AUTHORIZING AND ADJUSTING BONDS OF THE STATE AND CONCERNING PROVISIONS RELATING TO REVENUE, SCHOOL CONSTRUCTION AND OTHER ITEMS TO IMPLEMENT THE STATE BUDGET.

This bill removes sales tax on clothing under $100, school supplies, and appliances, and eliminates a 1% tax on meals sold by grocery stores. It creates new tax credits for homeowners (increasing the existing credit), caregivers of elderly or disabled family members, and renters earning $75,000 or less for primary residence costs. These changes directly lower tax burdens for Connecticut residents, particularly lower- and middle-income households. The bill modifies sales tax rules and expands income tax credits to improve affordability.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves sales tax on essentials and adds credits for lower/middle-income households, reducing tax burden per bill summary.95% confidence ✓ EducationSupports EducationRemoves sales tax on school supplies, directly reducing costs for families and supporting educational access for students.85% confidence ✓ HousingSupports HousingBill creates tax credits for renters earning $75k or less for primary residence costs, directly reducing housing costs and advancing affordability for lower-income households.90% confidence

Sub-Topics Business Taxes Sales Tax Tax Credits Property Taxes

in committee · Connecticut · Senate Feb 4, 2026

SB 61: AN ACT ESTABLISHING A VOLUNTARY EMPLOYER PAYROLL TAX AND A PERSONAL INCOME TAX CREDIT FOR CERTAIN EMPLOYEES.

SB 61 creates a voluntary payroll tax that employers may choose to pay, paired with a personal income tax credit for eligible employees. Employers who opt to participate in this program would pay the tax, and their qualifying employees would receive a corresponding tax credit on their state income tax returns. The bill specifically targets certain employees of participating employers, though it does not detail eligibility criteria in the provided text. This establishes a direct financial benefit for employees through the tax credit mechanism, contingent on employer participation.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for employees, reducing their state income tax burden - direct tax relief for targeted group.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentCreates tax credit for employees, directly increasing disposable income as a financial benefit aligned with worker wage support.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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