Connecticut Seal

Substitute Senate Bill No. 75

Public Act No. 14-171

AN ACT INCREASING THE CAP ON THE NEIGHBORHOOD ASSISTANCE ACT TAX CREDIT PROGRAM.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Subsection (i) of section 12-632 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2014):

(i) In no event shall the total amount of all tax credits allowed to all business firms pursuant to the provisions of this chapter exceed [five] ten million dollars in any one fiscal year. Three million dollars of the total amount of tax credits allowed shall be granted to business firms eligible for tax credits pursuant to section 12-635.

Vetoed June 11, 2014