Danbury Lawmaker Lauds Manufacturing Bill

From the CT General Assembly:

State Representative David Arconti (D-Danbury) lauded passage of a bill that will bring benefits to the manufacturing industry in the state. The measure, backed by Rep. Arconti is headed to the governor’s desk for signature.

S.B. 308 will require the Department of Economic and Community Development (DECD) to come up with legislative recommendations to establish a program to allow businesses in the state to state to exchange unused research and development tax credits for capital projects that create or retain jobs in the state.

“This is great news for our local businesses, particularly for Boehringer Ingelheim,” Rep. Arconti said. “I am pleased that given this short session, and facing as many challenges as we did, we were able to adopt various business friendly measures like this one that will support the foundation of companies like Boehringer.”

DECD is expected to submit their recommendations to the legislature’s Commerce and Finance Committees by next January for consideration.