State Representative Vincent Candelora (R-86th District) has been appointed to the state’s Business Tax Credit & Tax Policy Review Committee. The committee is charged with studying and evaluating all existing credits against the corporation business tax, and evaluating changes or modifications made these taxes. They are also required to consider further changes in tax policy toward businesses.
The appointment of Candelora, under Public Act 05-251, was made by House Republican Leader Lawrence F. Cafero ofNorwalk.
Candelora, a small business owner, says he looks forward to the committee getting to work.
“I think most people, especially those in the business community, understand that the state ofConnecticuthas some very anti-business tax policies on the books,” said Rep. Candelora. “Most of these poor tax policies are obstacles to economic growth and job creation. This committee will give us the opportunity to examine in depth what the real impact of our tax policies are, and will enable us to develop creative solutions to address them.”
Under the governing statute of the committee, the group’s work shall include examining if the credit or policy provided a benefit to the state in terms of measurable economic development, new investments in the state, new jobs or retention of existing jobs, or measurable benefits for the workforce in the state.
They must also examine if there is sufficient justification to continue the credit or policy as it currently exists or is it obsolete; or if the credit or policy could be more efficiently administered as part of a broad-based credit or policy.
The Business Tax Credit & Tax Policy Review Committee is charged with presenting their findings to the Finance Revenue and Bonding Committee of the General Assembly during this legislative session.