HB05466 • 2026

AN ACT CONCERNING THE ANGEL INVESTOR TAX CREDIT PROGRAM.

Small Business Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Commerce Committee
Last action: 2026-03-05
Official status: Referred to Joint Committee on Commerce
Effective date: Not listed

Plain English Breakdown

The bill does not provide detailed operational guidelines for the working group beyond its composition and reporting requirements.

Establishing a Working Group to Study Angel Investor Tax Credits

This act establishes a working group to study the angel investor tax credit program and submit recommendations.

What This Bill Does

Creates a working group to review the angel investor tax credit program established under section 12-704d of the general statutes.
Includes members from the commerce committee, Connecticut Innovations, Incorporated, and the Commissioner of Economic and Community Development in the working group.
Requires the first meeting of the working group within sixty days after the act is passed.
Asks the working group to submit a report with findings and recommendations by January 1, 2027.

Who It Names or Affects

Members of the commerce committee
Connecticut Innovations, Incorporated
Commissioner of Economic and Community Development

Terms To Know

Angel Investor Tax Credit Program: A program that offers tax credits to individuals who invest in startups or small businesses.
Working Group: A temporary team formed to study a specific issue and make recommendations.

Limits and Unknowns

The bill does not specify the exact details of how the working group will operate beyond its composition and reporting requirements.
It is unclear what changes, if any, might result from the report submitted by the working group.

Bill History

2026-03-05 Connecticut General Assembly
Referred to Joint Committee on Commerce

Official Summary Text

To establish a working group to study the angel investor tax credit program established pursuant to section 12-704d of the general statutes.

Current Bill Text

Read the full stored bill text

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General Assembly Raised Bill No. 5466
February Session, 2026 LCO No. 2727

Referred to Committee on COMMERCE

Introduced by:
(CE)

AN ACT CONCERNING THE ANGEL INVESTOR TAX CREDIT
PROGRAM.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. (Effective from passage ) (a) The chairpersons of the joint 1
standing committee of the General Assembly having cognizance of 2
matters relating to commerce shall convene a working group to study 3
and make recommendations concerning the angel investor tax credit 4
program established pursuant to section 12-704d of the general statutes. 5
Such study shall include, but need not be limited to, a review of the audit 6
summary completed by the Auditors of Public Accounts on Connecticut 7
Innovations, Incorporated's administration of the angel investor tax 8
credit program for the fiscal years ending June 30, 2022, and June 20, 9
2023. 10
(b) The working group shall consist of, but need not be limited to, the 11
following members: 12
(1) The chairpersons and ranking members of the joint standing 13
committee of the General Assembly having cognizance of matters 14
relating to commerce, or their designees; 15

Raised Bill No. 5466

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(2) The chief executive officer of Connecticut Innovations, 16
Incorporated, or the chief executive officer's designee; 17
(3) The Commissioner of Economic and Community Development, 18
or the commissioner's designee; and 19
(4) Any additional members, as deemed necessary by the 20
chairpersons of the joint standing committee of the General Assembly 21
having cognizance of matters relating to commerce. 22
(c) The chairpersons of the joint standing committee of the General 23
Assembly having cognizance of matters relating to commerce shall 24
schedule the first meeting of the working group, which shall be held not 25
later than sixty days after the effective date of this section. 26
(d) The members of the working group shall select two 27
cochairpersons from among the members of the working group. 28
(e) The administrative staff of the joint standing committee of the 29
General Assembly having cognizance of matters relating to commerce 30
shall serve as administrative staff of the working group. 31
(f) Not later than January 1, 2027, the working group shall submit a 32
report on its findings and recommendations to the joint standing 33
committee of the General Assembly having cognizance of matters 34
relating to commerce, in accordance with the provisions of section 11-4a 35
of the general statutes. The working group shall terminate on the date 36
that it submits such report or January 1, 2027, whichever is later. 37
This act shall take effect as follows and shall amend the following
sections:

Section 1 from passage New section

Statement of Purpose:
To establish a working group to study the angel investor tax credit
program established pursuant to section 12-704d of the general statutes.

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[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
underlined.]