The Connecticut Business & Industry Association is the voice of business in Connecticut, with thousands of member companies championing change at the State Capitol, shaping debate about economic competitiveness, and fighting for a better future for all.
Implements the Governor’s budget recommendations for general government including imposition of a new tax on employers to be used for the Connecticut Department of Labor’s expenses.
Implements recommendations made by the Governor's Council on Climate Change, including further incorporating climate change concerns into local regional and state planning documents. It also changes the current requirement for a Comprehensive Energy Strategy every three years to a Comprehensive Climate and Energy Strategy every four years.
Implements the Department of Energy and Environmental Protection's revised Comprehensive Energy Strategy. Creates a new requirement for the amount of Class 1 renewable power supplied to customers; reduces penalties for non-compliance; narrows the array of clean energy technologies the state will consider as Class 1, including stripping fuel cells and certain biofuel technologies of that status; calls for additional charges on ratepayers to fund clean energy and energy efficiency programs.
Features the governor’s proposed fiscal 2018-2019 budget revisions, including extending the surcharge on corporations, a new tax on employers—0.05% on all taxable wages—used solely to cover state labor department wages and benefits, limiting the $2.5 million cap on unitary (or combined) tax reporting to manufacturers only, repealing the brownfields remediation tax credit program, increasing the hotel tax to 17%, a special 7% tax on restaurant sales, boosting real estate conveyance taxes to 0.85% and 1.4%, canceling a planned 2020 cut in the hospital provider tax, hiking the gas tax by seven cents a gallon, adding a $3 fee on new tire sales, and eliminating the sales tax on non-prescription medicine.
Features various provisions addressing recent federal tax changes, including decoupling state and federal laws related to the depreciated value of capital investments. This change effectively changes depreciation schedules, with particular impact on manufacturers (see sections 11 and 12).