CT HB05636

Expands apprenticeship tax credit eligibility to apply against income tax under chapter 229 and allows S corporations, partnerships, and single-member LLCs to claim credits through their owners or shareholders, effective January 1, 2017.

Removes the previous provisions allowing affected business entities to sell, assign, or transfer apprenticeship tax credits to other taxpayers.

Transfers responsibility for preparing triennial tax credit and abatement program reports from the Commissioner of Economic and Community Development to the Legislative Program Review and Investigations Committee, effective February 1, 2018.

Requires simplified evaluation framework for tax credit and abatement programs focusing on program description, fiscal impact, economic impact, administrative efficiency, and recommendations for continuation, modification, or repeal.

Mandates joint standing committees on appropriations and finance to hold public hearings on tax credit reports by March 1, 2018, and every three years thereafter.