HB05466 • 2026

AN ACT CONCERNING THE ANGEL INVESTOR TAX CREDIT PROGRAM.

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 official text states the effective date is 'from passage' but does not provide a specific calendar date for when that occurred.

Working Group to Study Angel Investor Tax Credit Program

This law creates a working group led by Commerce Committee chairpersons to study the angel investor tax credit program and submit findings with recommendations by January 1, 2027.

What This Bill Does

Creates a working group convened by the chairpersons of the General Assembly's joint standing committee on commerce to study the angel investor tax credit program.
Requires the study to include a review of an audit summary regarding Connecticut Innovations' management of the program for fiscal years ending June 30, 2022, and June 30, 2023.
Sets a deadline for the first meeting within sixty days after the law takes effect.
Requires members to select two cochairpersons from among themselves.
Mandates that the working group submit a final report with findings and recommendations by January 1, 2027.
Ends the existence of the working group on the date it submits its report or January 1, 2027.

Who It Names or Affects

The chairpersons and ranking members of the General Assembly's joint standing committee on commerce
Connecticut Innovations, Incorporated (specifically its chief executive officer)
The Commissioner of Economic and Community Development

Terms To Know

Angel investor tax credit program: A state program established under section 12-704d of the general statutes.
Working group: A temporary team formed to study a specific issue and make recommendations, which includes members from government committees and Connecticut Innovations.

Limits and Unknowns

The law does not state whether the tax credit program will change based on the working group's findings.
The exact date of the first meeting depends on when this bill officially becomes effective, which is listed as 'from passage' but no specific calendar date is provided in the text.

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

LCO No. 2727 1 of 3

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

LCO No. 2727 2 of 3

(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.

Raised Bill No. 5466

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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.]