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SB 736

AN ACT CONCERNING RESEARCH AND DEVELOPMENT TAX CREDITS FOR BIOTECHNOLOGY COMPANIES.

2025 Regular Session Introduced by Christine Cohen and 3 co-sponsors

Connecticut would establish R&D tax credits for biotechnology companies to attract investment and innovation while reducing state tax revenue from qualifying firms.

REF. TO JOINT COMM. ON Finance, Revenue and Bonding
#biotechnology #researchanddevelopment #taxcredits
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Bill Summary · SB 736

Legislative bill overview

SB 736 would establish or modify research and development (R&D) tax credits specifically for biotechnology companies operating in Connecticut. The bill aims to incentivize biotech sector investment and innovation through state tax incentives. The measure is currently in the Joint Committee on Finance, Revenue and Bonding for review.

Why is this important

Biotechnology is a high-value industry with significant job creation and economic development potential. Tax credits can influence where companies locate facilities and conduct research, making this a tool for economic competitiveness between states. Connecticut's decision on biotech incentives will affect both state revenue and its ability to attract or retain biotech employers.

Potential points of contention

  • Fiscal impact uncertainty: The state revenue cost of expanded tax credits is unclear without seeing the bill's specific rates and eligibility criteria, raising questions about budget sustainability
  • Definition and eligibility scope: Determining which activities and companies qualify as "biotechnology" R&D could favor certain sectors over others or create compliance complexity
  • Return on investment accountability: Critics may question whether tax credits generate sufficient job creation and economic benefits to justify forgone state revenue, or whether companies would locate in Connecticut regardless

Compiled from official sources — confirm details with the bill’s official record.

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