CT SB00420

Extends manufacturing apprenticeship tax credits to pass-through entities including S corporations, partnerships, and single-member LLCs, allowing shareholders, partners, or owners to claim credits starting January 1, 2014.

Increases apprenticeship tax credit from $4 per hour (capped at $4,800 annually) effective January 1, 2014 to $6 per hour (capped at $7,500 annually) effective January 1, 2015.

Extends neighborhood assistance tax credits under Chapter 12 to pass-through entities and adds Chapter 229 corporate tax liability (excluding section 12-707) as an eligible tax to claim credits against.

Applies changes to tax credits for child day care facilities, energy conservation projects, employment training programs, and community alcoholism prevention programs for pass-through entities.

Makes amendments effective July 1, 2014 and July 1, 2015, applicable to income and taxable years commencing on or after January 1, 2014 and January 1, 2015, respectively.