CT HB05280

Applies to employers with 50 or more employees in Connecticut, defining "employer" broadly to include businesses, educational institutions, nonprofits, and other entities.

Prohibits employers from receiving any state tax credits, tax exemptions, abatements, or financial assistance under Connecticut General Statutes titles 12 or 32 if executive compensation (board members, CEO, officers, owners, presidents, or executive staff) exceeds 50 times the average annual compensation of regular employees in the same calendar year.

Restriction takes effect January 1, 2015, and applies to any benefits realized in that calendar year or later.

Does not apply retroactively to tax credits, exemptions, abatements, or financial assistance already realized before January 1, 2015, even if such benefits continue after that date.

The section takes effect October 1, 2014.