CT SB00965

Connecticut Innovations, Incorporated's chief executive officer shall conduct a study of business sectors to identify which should be included in a venture capital investment incentive program offering personal income tax deductions.

Eligible business sectors may include pharmaceuticals, medical equipment, medical/diagnostic testing laboratories, life sciences research and development, cybersecurity products or services, data analysis products or services, and software development.

The chief executive officer must submit a report to the joint standing committees on finance, revenue and bonding, and commerce by January 1, 2018, with recommendations on which sectors to include in the program.

The report shall include a recommended ratio or formula, developed with the Commissioner of Revenue Services, for calculating the amount of personal income tax deduction for qualifying investments.