AN ACT CONCERNING THE RESEARCH AND DEVELOPMENT TAX CREDIT EXCHANGE RATE FOR BIOTECHNOLOGY COMPANIES.

Plain English Breakdown

The bill status shows it was referred to a committee, but metadata also notes it passed both chambers; however, no effective date is provided in the text.

Increasing Tax Credit Exchange Rate for Biotech Companies

This bill changes state law to raise the research and development tax credit exchange rate to 100 percent specifically for biotechnology companies.

What This Bill Does

• Amends section 12-217ee of the general statutes.
• Increases the research and development tax credit exchange rate to one hundred per cent.
• Applies this change only to biotechnology companies.

Who It Names or Affects

• Biotechnology companies

Limits and Unknowns

• The official text does not state the effective date of this law.
• The source material does not define what qualifies as a biotechnology company.

Official Summary Text

To increase the research and development tax credit exchange rate under section 12-217ee of the general statutes to one hundred per cent for biotechnology companies.

Current Bill Text

LCO No. 325 1 of 1

General Assembly Proposed Bill No. 51
February Session, 2026 LCO No. 325

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
SEN. SOMERS, 18th Dist.

AN ACT CONCERNING THE RESEARCH AND DEVELOPMENT TAX
CREDIT EXCHANGE RATE FOR BIOTECHNOLOGY COMPANIES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That section 12-217ee of the general statutes be amended to increase 1
the research and development tax credit exchange rate to one hundred 2
per cent for biotechnology companies. 3
Statement of Purpose:
To increase the research and development tax credit exchange rate
under section 12-217ee of the general statutes to one hundred per cent
for biotechnology companies.