CT HB05583

Expands the definition of "Connecticut business" eligible for angel investor tax credits by removing the requirement that businesses be engaged in specific sectors (bioscience, advanced materials, photonics, information technology, clean technology) and instead allows any business determined to be an "emerging technology business" by the Commissioner of Economic and Community Development.

Allows angel investors to claim a tax credit equal to 25 percent of cash investments of at least $25,000 in qualified Connecticut businesses, with a maximum credit of $250,000 per investor.

Limits annual tax credit reservations to $3 million per fiscal year (down from $6 million for fiscal years 2010-2012), with no new credits reserved after July 1, 2019.

Restricts 75 percent of available annual credits to emerging technology businesses, though unused credits after April 1 may be used for other investments.

Requires Connecticut Innovations, Incorporated to conduct annual reviews of the program's effectiveness, including tracking investments, job creation, and economic impact.