OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-1095
AN ACT EXPANDING THE ANGEL INVESTOR TAX CREDIT
PROGRAM TO SOCIAL EQUITY APPLICANTS.
OFA Fiscal Note
State Impact:
Agency Affected Fund-Effect FY 22 $ FY 23 $
Revenue Serv., Dept. GF - Revenue Up to 15 Up to 15
Loss million million
Note: GF=General Fund
Municipal Impact: None
Explanation
The bill, which extends the angel investor tax credit program to
eligible cannabis businesses, results in a General Fund revenue loss of
up to $15 million annually in FY 22, FY 23, and FY 24 only.
The Out Years
The annualized ongoing fiscal impact identified above would
continue through FY 24, after which the program sunsets.
Primary Analyst: CW 5/7/21
Contributing Analyst(s):
Reviewer: MM


Statutes affected:
Raised Bill: 12-704d
FIN Joint Favorable: 12-704d
File No. 669: 12-704d