The proposed bill, General Assembly Proposed Bill No. 71, aims to establish a Connecticut farmer investment tax credit, drawing inspiration from New York State's Farmers and Refundable Tax Credit Program. This initiative is designed to provide specific tax credits to farmers within the state, thereby supporting the agricultural sector and encouraging investment in farming activities.

The bill does not include any deletions from current law but introduces new legal language to create the tax credit framework. By implementing this tax credit, the legislation seeks to enhance the financial viability of farming operations in Connecticut, ultimately benefiting the state's economy and food production capabilities.