Connecticut’s Department of Economic and Community Development (DECD) recently released a report on “An Assessment of Connecticut’s Tax Credit and Abatement Programs.” The report, required by PA 10-1 (June Spec. Sess.), analyzes tax credit programs in effect from 1995 through 2007.
DECD’s report recommends that many state tax credit, property tax abatement, and exemption programs be eliminated, due to negative or very limited positive impacts or limited participation. It recommends that certain enterprise zone programs be reevaluated in light of the 2010 Census. The report further concludes that “the enterprise zone programs generate little economic and fiscal impact and may require municipal and state efforts disproportionate to their benefits.”
