8legs: Connecticut general assembly

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#1 out of 2

Connecticut moves to expand R&D credits to small businesses and pass-throughs as part of the governor's budget plan.
The proposed credits would target companies with less than $70 million in gross income, with a 6% credit rate.
The bill would cap credits at $25 million annually and can refund leftovers to eligible companies.
Supporters argue expanded credits would broaden Connecticut’s innovation pipeline and attract investment.
Biotech and advanced manufacturing sectors are eyeing the credits to sustain growth and jobs.
Advocates say credits could help small firms compete with larger states on innovation.
The legislation would maintain a focus on innovation hubs and clusters in New Haven and beyond.
Lawmakers stress the need for careful evaluation of the credits amid budget considerations.
The debate underscores Connecticut’s aim to stay competitive with nearby states in R&D investment.
Past attempts to expand credits faced hurdles; lawmakers recall previous bills like HB 7008 and HB 5488.
Public hearings and testimony highlight the bill's potential impact on small manufacturers like Linemaster and Rowley Spring.

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#2 out of 2

Lamont vetoed four million dollars in line-item funding from six sections of an emergency-certified bill, aiming for more transparency in state spending.
The governor said the objection is to the process, not the missions of the programs named in the bill.
Lamont noted that earmarks bypass committees and public hearings, calling for greater oversight of taxpayer funds.
One vetoed item would have funded CREC in Hartford for a teacher training program, tied to a senator’s influence under investigation by the FBI.
Lamont emphasized other provisions of SB 298, including health and safety standards for warehouse workers and police training enhancements.
Lamont’s veto follows a Connecticut Mirror report about his plan to veto line items, drawing criticism from Senate Democratic leaders Looney and Duff.
Lamont approved other agenda items in SB 299, which addresses bottle-deposit fraud and related issues.
The veto action reflects Lamont’s push for transparency in how earmarked funds are proposed, reviewed, and distributed.
Lamont’s veto targeted a mix of Department of Economic and Community Development, Judicial Department, and Education allocations in SB 298.

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