CT HB06746

Establishes a tax credit for qualified investors (accredited investors or networks thereof) who make cash investments in Connecticut bioscience or biotechnology businesses, effective for taxable years beginning January 1, 2017.

Credit equals 50% of the investor's cash investment, with caps of $250,000 for venture capital funds and $50,000 for other individual qualified investors under chapter 229 (corporate tax).

Qualified investors subject to chapter 208 (personal income tax) receive a 50% credit on cash investments with a $250,000 cap.

Defines bioscience as manufacturing pharmaceuticals, medical equipment, diagnostic testing, or life science research and development; defines biotechnology as application of genetic engineering, molecular biology, or bioprocesses using living organisms.

Credits may be sold, assigned, or transferred, and can be claimed by shareholders or partners if the qualified investor is an S corporation, partnership, or single-member LLC.