CT SB00043

Replaces the existing machinery and equipment tax credit with a new credit equal to 50% of the amount spent by corporations on qualifying purchases

Eliminates employee count requirements, making the credit available to corporations regardless of size

Machinery and equipment must be acquired for and installed in a Connecticut facility to qualify

Requires a minimum 5-year use period for the machinery or equipment at the facility after installation

Includes a full recapture provision requiring corporations to repay the entire tax credit if the 5-year minimum use requirement is not met