Gov. Dannel Malloy is seeking modifications to state taxes, credits and exemptions via a special session of the Connecticut General Assembly on Tuesday, Dec. 8.
In a prepared statement, Malloy said the meeting will be held “in order to enact legislation that will improve Connecticut’s business climate, amend the state constitution to ensure that transportation dollars are only spent for those purposes and ensure that state spending aligns with revenues as well as making long-term structural changes.”
“After over a month of bipartisan dialogue with a healthy exchange of ideas, I believe there is more that unites Democratic and Republican leaders than divides us,” Malloy added. “We all want what’s best for the state of Connecticut. While there might be some outstanding disagreements, we must set a deadline for action, and date and time for a special session.
“And while there may be some policy differences, I’m urging both sides to work collectively to resolve them by Tuesday,” he said. “We must act collectively to tackle our short-term budget issues, make structural long-term changes to our policy, pass tax reform to help make Connecticut’s business climate one of the strongest in the region and ensure that money set aside for our long-term transportation vision is spent for that purpose.”
The governor”™s office, without being specific about impacts, listed the taxes, credits and exemptions under the microscope that will include “corporation tax net operating loss provisions; unitary combined reporting; Energy Star sales tax exemption; personal income tax short term exemption; propane tax on fuel for residential generators; apprenticeship tax credit; corporate tax credit caps; and structural optional municipal mill rate adjustment.”
