Bill > SB00071

This bill proposes to create a new tax credit program for farmers in Connecticut, specifically modeled after New York State's Farmers and Refundable Tax Credit Program. While the details of the specific tax credit are not fully elaborated in this bill text, the bill aims to provide financial support to farmers in the state by offering them tax credits as an incentive for investment and to help sustain agricultural businesses. A tax credit is a direct reduction in the amount of taxes owed, which can provide significant financial relief for farmers. By adopting a program similar to New York's, Connecticut appears to be seeking to support its agricultural sector by providing economic benefits that could help farmers invest in their operations, potentially improving their economic viability and supporting the state's agricultural industry.

Agriculture and Natural Resources, Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00071&which_year=2025