CT HB06962

Amends section 32-1r of the general statutes to require the Auditors of Public Accounts to evaluate business recruitment and retention tax credits and abatements every three years in consultation with the Department of Revenue Services, Department of Economic and Community Development, and Office of the Comptroller.

Each evaluation must include a program description, beneficiary information, intended statutory and programmatic goals, and fiscal impact analysis with projections for future cost changes.

Requires analysis of whether economic development goals are being met, identification of obstacles to achieving those goals, and assessment of program administration efficiency and taxpayer compliance burden.

Mandates a recommendation on whether each tax credit or abatement program should be continued, modified, or repealed with supporting rationale and suggestions for improving administrative efficiency.

Designed to ensure tax credits produce measurable economic development and employment gains in Connecticut.