The Commissioner of Revenue Services shall grant a credit against any tax due under the provisions of chapter 207, 208, 209, 210, 211 or 212 in an amount not to exceed sixty per cent of the total cash amount invested during the taxable year by the business firm in community-based alcoholism prevention or treatment programs operated or created pursuant to proposals approved pursuant to section 12-632.
(P.A. 84-387, S. 2, 3; P.A. 95-268, S. 6, 11; P.A. 10-188, S. 10.)
History: P.A. 84-387 effective July 1, 1984, and applicable to the total amount of such tax credits allowed in the state fiscal year commencing on that date and in each fiscal year thereafter; P.A. 95-268 deleted chapters 212a and 228 from the chapters which provide for taxes which may be granted a credit and lowered the amount of credit granted from 50% of the total amount invested to 40% of the total cash amount invested, effective July 6, 1995; P.A. 10-188 increased credit amount from 40% to 60% of total cash amount invested, effective June 7, 2010.
Structure Connecticut General Statutes
Chapter 228a - R.E. Van Norstrand Neighborhood Assistance Act
Section 12-630aa. - Short title: R.E. Van Norstrand Neighborhood Assistance Act.
Section 12-631. - Definitions.
Section 12-632. - Lists of eligible programs. Application by businesses. Limitations on tax credits.
Section 12-632a. - Proration of tax credits, when.
Section 12-633. - Amount of tax credits; generally.
Section 12-634. - Amount of tax credits; child care centers.
Section 12-636. - Decision of the Commissioner of Revenue Services.