CT SB00127

Expands the definition of "business firm" eligible for tax credits under the Neighborhood Assistance Act to include entities subject to chapter 213a tax provisions, effective October 1, 2011.

Increases the annual tax credit limit per business firm from $75,000 to $250,000.

Removes the requirement that business firms demonstrate their charitable spending has not decreased compared to the prior year to qualify for tax credits (except for open space acquisition).

Renumbers and consolidates subsections in section 12-632, including relabeling former subsection (k) as subsection (j), while maintaining the $150,000 aggregate funding cap per organization per fiscal year.

All changes take effect October 1, 2011.