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HB 6739

AN ACT ESTABLISHING A BUY CONNECTICUT PROGRAM FOR DEFENSE CONTRACTORS.

2025 Regular Session Introduced by Jason Perillo

Overview: HB 6739, AN ACT ESTABLISHING A BUY CONNECTICUT PROGRAM FOR DEFENSE CONTRACTORS, Changed Reference, Sent to Committee on Finance, Revenue and Bonding, Introduced on Januar

CHG. REF., SEN. TO COMM. ON Finance, Revenue and Bonding
#corporationbusinesstaxcreditsforresearchanddevelopmentexpenses #defenseindustry #salesandusetaxexemptions
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Bill Summary · HB 6739

Overview: HB 6739, AN ACT ESTABLISHING A BUY CONNECTICUT PROGRAM FOR DEFENSE CONTRACTORS, Changed Reference, Sent to Committee on Finance, Revenue and Bonding, Introduced on January 27, 2025.

Purpose and Intent: The bill aims to incentivize defense contractors to purchase goods and services from Connecticut-based businesses by providing tax credits and sales tax exemptions. The goal is to support the state's defense industry and promote economic development.

Key Provisions:
- Establishes a "Buy Connecticut" program for defense contractors
- Provides a corporation business tax credit for research and development expenses incurred by defense contractors
- Offers a sales and use tax exemption for purchases of goods and services by defense contractors from Connecticut-based businesses

Affected Parties and Impacts:
- Defense contractors operating in Connecticut, who will benefit from the tax incentives
- Connecticut-based businesses that supply goods and services to the defense industry, as they may see increased demand
- State government, which will forgo some tax revenue in the short term to support the defense industry and economic development

Procedural and Timeline Considerations: The bill has been referred to the Committee on Finance, Revenue and Bonding for further review and consideration. If passed, the tax credits and exemptions would be available for eligible defense contractors starting in the next fiscal year.

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

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