HB 07414 Summary

• Establishes the "State Capitol Complex Fund" to be held by the Comptroller for capital expenditure programs and historic preservation projects at the State Capitol and Old State House, effective July 1, 2019.

• Permits companies to make voluntary cash donations to the fund and receive tax credits against income taxes under chapters 207, 208, 209, 210, 211, or 212 of the general statutes, with aggregate credits capped at $5 million per fiscal year.

• Allows tax credits to be claimed in the year of donation and carried forward up to five years, and permits credits to be sold, assigned, or transferred to other taxpayers up to three times.

• Creates a 12-member State Commission on Capitol Preservation and Restoration to develop a master plan for Capitol preservation, review project plans, and establish artistic standards consistent with the building's historical character.

• Requires the Comptroller to provide quarterly accounting of fund deposits and annual reports to the Joint Committee on Legislative Management.