Connecticut 2025 Regular Session Status: In Committee

HB 7268 — AN ACT CONCERNING THE JOBSCT TAX REBATE PROGRAM.

Last action — FILE NO. 891

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

129 added · 34 removed

129 line(s) added, 34 removed.

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General Assembly Raised Bill No.
House of Representatives General Assembly File No.
7268 January Session, 2025 LCO No.
891 January Session, 2025 House Bill No.
6839 Referred to Committee on FINANCE, REVENUE AND BONDING Introduced by:
7268 House of Representatives, May 12, 2025 The Committee on Finance, Revenue and Bonding reported through REP.
(FIN) AN ACT CONCERNING THE JOBSCT TAX REBATE PROGRAM.
HORN of the 64th Dist., Chairperson of the Committee on the part of the House, that the bill ought to pass.
AN ACT CONCERNING THE JOBSCT TAX REBATE PROGRAM.
(4) "Full-time equivalent" or "FTE" means the number of employees LCO 6839 1 of 13 Raised Bill No.
(4) "Full-time equivalent" or "FTE" means the number of employees HB7268 / File No.
7268 employed at a qualified business, calculated in accordance with subsection (d) of this section;
891 1 HB7268 File No.
891 employed at a qualified business, calculated in accordance with subsection (d) of this section;
(10) "New FTEs created" means the number of new FTEs that the qualified business is employing at a point-in-time at the end of the LCO 6839 2 of 13 Raised Bill No.
(10) "New FTEs created" means the number of new FTEs that the qualified business is employing at a point-in-time at the end of the HB7268 / File No.
7268 relevant time period;
891 2 HB7268 File No.
891 relevant time period;
LCO 6839 3 of 13 Raised Bill No.
HB7268 / File No.
7268 (16) "Qualified wages" means wages sourced to this state pursuant to section 12-705;
891 3 HB7268 File No.
891 (16) "Qualified wages" means wages sourced to this state pursuant to section 12-705;
LCO 6839 4 of 13 Raised Bill No.
HB7268 / File No.
7268 (c) (1) To be eligible to claim a rebate under this section, a qualified business shall apply to the commissioner in accordance with the provisions of this subsection.
891 4 HB7268 File No.
891 (c) (1) To be eligible to claim a rebate under this section, a qualified business shall apply to the commissioner in accordance with the provisions of this subsection.
(3) The commissioner, upon consideration of an application and any additional information, may approve an application in whole or in part LCO 6839 5 of 13 Raised Bill No.
(3) The commissioner, upon consideration of an application and any additional information, may approve an application in whole or in part HB7268 / File No.
7268 or may approve an application with amendments.
891 5 HB7268 File No.
891 or may approve an application with amendments.
(7) The commissioner shall issue a rebate allocation notice stating the maximum amount of each rebate available to an approved qualified business for the rebate period and the specific terms that such business LCO 6839 6 of 13 Raised Bill No.
(7) The commissioner shall issue a rebate allocation notice stating the maximum amount of each rebate available to an approved qualified business for the rebate period and the specific terms that such business shall meet to qualify for each rebate.
7268 shall meet to qualify for each rebate.
Such notice shall certify to the HB7268 / File No.
Such notice shall certify to the approved qualified business that the rebates may be claimed by such business if it meets the specific terms set forth in the notice.
891 6 HB7268 File No.
891 approved qualified business that the rebates may be claimed by such business if it meets the specific terms set forth in the notice.
(i) The lesser of (I) the new FTEs created in an opportunity zone or distressed municipality on December thirty-first of the calendar year LCO 6839 7 of 13 Raised Bill No.
(i) The lesser of (I) the new FTEs created in an opportunity zone or distressed municipality on December thirty-first of the calendar year that is two calendar years prior to the calendar year in which the rebate HB7268 / File No.
7268 that is two calendar years prior to the calendar year in which the rebate isbeing claimed,or(II)thenewFTEsmaintainedinanopportunityzone or distressed municipality in the previous calendar year, multiplied by fifty per cent of the income tax that would be paid on the average wage of the new FTEs, as determined by the applicable marginal rate set forth in chapter 229 for an unmarried individual based solely on such wages;
891 7 HB7268 File No.
891 isbeing claimed,or(II)thenewFTEsmaintainedinanopportunityzone or distressed municipality in the previous calendar year, multiplied by fifty per cent of the income tax that would be paid on the average wage of the new FTEs, as determined by the applicable marginal rate set forth in chapter 229 for an unmarried individual based solely on such wages;
[(2)] (3) Except as provided in subdivision [(4)] (5) of this subsection, in no event shall the rebate under this subsection exceed in any calendar year of the rebate period five thousand dollars multiplied by the lesser of(A)thenewFTEscreatedbyDecemberthirty-firstofthecalendaryear that is two calendar years prior to the calendar year in which the rebate is being claimed, or (B) the new FTEs maintained in the calendar year LCO 6839 8 of 13 Raised Bill No.
[(2)] (3) Except as provided in subdivision [(4)] (5) of this subsection, in no event shall the rebate under this subsection exceed in any calendar year of the rebate period five thousand dollars multiplied by the lesser of(A)thenewFTEscreatedbyDecemberthirty-firstofthecalendaryear that is two calendar years prior to the calendar year in which the rebate is being claimed, or (B) the new FTEs maintained in the calendar year immediately prior to the calendar year in which the rebate is being HB7268 / File No.
7268 immediately prior to the calendar year in which the rebate is being claimed.
891 8 HB7268 File No.
891 claimed.
(i) The lesser of the new discretionary FTEs (I) created in an opportunity zone or distressed municipality on December thirty-first of the calendar year that is two calendar years prior to the calendar year in which the rebate is being claimed, or (II) maintained in an opportunity LCO 6839 9 of 13 Raised Bill No.
(i) The lesser of the new discretionary FTEs (I) created in an opportunity zone or distressed municipality on December thirty-first of the calendar year that is two calendar years prior to the calendar year in which the rebate is being claimed, or (II) maintained in an opportunity zone or distressed municipality in the previous calendar year, HB7268 / File No.
7268 zone or distressed municipality in the previous calendar year, multiplied by fifty per cent of the income tax that would be paid on the average wage of the new discretionary FTEs, as determined by the applicable marginal rate set forth in chapter 229 for an unmarried individual based solely on such wages;
891 9 HB7268 File No.
891 multiplied by fifty per cent of the income tax that would be paid on the average wage of the new discretionary FTEs, as determined by the applicable marginal rate set forth in chapter 229 for an unmarried individual based solely on such wages;
or (ii)For tax credits earned,claimed or payable prior to January 1,2024, onethousandfivehundreddollarsmultipliedbythelesserof(I)thenew FTEs created by December 31, 2022, or (II) the new FTEs maintained in the calendar year immediately prior to the calendar year in which the rebate is being claimed.
or (ii)For tax creditsearned,claimed or payable prior to January 1, 2024, onethousandfivehundreddollarsmultipliedbythelesserof(I)thenew FTEs created by December 31, 2022, or (II) the new FTEs maintained in the calendar year immediately prior to the calendar year in which the rebate is being claimed.
(2) In no event shall the rebate under this subsection exceed in any calendar year of the rebate period five thousand dollars multiplied by the lesser of the new discretionary FTEs (A) created by December thirty- first of the calendar year that is two calendar years prior to the calendar year in which the rebate is being claimed, or (B) maintained in the calendar year immediately prior to thecalendar year inwhichtherebate LCO 6839 10 of 13 Raised Bill No.
(2) In no event shall the rebate under this subsection exceed in any calendar year of the rebate period five thousand dollars multiplied by the lesser of the new discretionary FTEs (A) created by December thirty- first of the calendar year that is two calendar years prior to the calendar year in which the rebate is being claimed, or (B) maintained in the calendar year immediately prior to thecalendar year inwhichtherebate is being claimed.
7268 is being claimed.
HB7268 / File No.
(3) In no event shall an approved qualified business receive a rebate under this subsection in any calendar year of the rebate period if such business hasnot maintainedat least twenty-five newdiscretionary FTEs in the calendar year immediately prior to the calendar year in which the rebate is being claimed.
891 10 HB7268 File No.
891 (3) In no event shall an approved qualified business receive a rebate under this subsection in any calendar year of the rebate period if such business hasnot maintainedat least twenty-five newdiscretionary FTEs in the calendar year immediately prior to the calendar year in which the rebate is being claimed.
(i) (1) A rebate under this section may be granted to an approved LCO 6839 11 of 13 Raised Bill No.
(i) (1) A rebate under this section may be granted to an approved qualified business for not more than seven successive calendar years.
7268 qualified business for not more than seven successive calendar years.
A rebate shall not be granted until at least twenty-four months after the HB7268 / File No.
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A rebate shall not be granted until at least twenty-four months after the commissioner's approval of a qualified business's application.
891 11 HB7268 File No.
891 commissioner's approval of a qualified business's application.
(l) Beginning on January 1, 2023, and annually thereafter, the LCO 6839 12 of 13 Raised Bill No.
(l) Beginning on January 1, 2023, and annually thereafter, the commissioner, in consultation with the office of the State Comptroller and the Auditors of Public Accounts, shall submit a report to the Office of Policy and Management on the expenses of the JobsCT tax rebate HB7268 / File No.
7268 commissioner, in consultation with the office of the State Comptroller and the Auditors of Public Accounts, shall submit a report to the Office of Policy and Management on the expenses of the JobsCT tax rebate program and the number of FTEs and discretionary FTEs created and maintained.
891 12 HB7268 File No.
891 program and the number of FTEs and discretionary FTEs created and maintained.
October 1, 2025 Section 1 32-7t FIN Joint Favorable LCO 6839 13 of 13
Section 1 October 1, 2025 32-7t FIN Joint Favorable HB7268 / File No.
891 13 HB7268 File No.
891 The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose.
In general, fiscal impacts are based upon a variety of informational sources, including the analyst’s professional knowledge.
Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.
OFA Fiscal Note State Impact:
Agency Affected Fund-Effect FY 26 $ FY 27 $ Department of Economic & GF - Potential 73,500 98,000 Community Development Cost State Comptroller - Fringe GF - Potential 29,922 39,896 Benefits1 Cost Department of Revenue Services GF - Revenue None None Loss Note:
GF=General Fund Municipal Impact:
None Explanation The bill, which establishes lower eligibility standards for the JobsCT tax rebate program for businesses with 75 or fewer employees, which results in a potential cost of $137,896 annually to the Department of Economic and Community Development (DECD) to the degree that the bill significantly increases the number of applications towards the JobsCT program.
DECD may require one full time position at an annual cost of $98,000 in salary and $39,896 in fringe benefits to administer and process additional applications.
The Out Years The bill results in General Fund revenue losses of less than $100,000 in FY 28, approximately $150,000 in FY 29, and approximately $500,000 in FY 30.
The annual revenue loss is expected to peak at $2.1 million in The fringe benefit costs for most state employees are budgeted centrally in accounts administered by the Comptroller.
The estimated active employee fringe benefit cost associated with most personnel changes is 40.71% of payroll in FY 26.
HB7268 / File No.
891 14 HB7268 File No.
891 FY 34 before falling to $1.1 million by FY 37.
The annualized ongoing potential cost identified above would continue into the future subject to inflation.
2The revenue impact is limited to the out years as the credit is allowed beginning in the second year after acceptance into the program.
HB7268 / File No.
891 15 HB7268 File No.
891 OLR Bill Analysis HB 7268 AN ACT CONCERNING THE JOBSCT TAX REBATE PROGRAM.
SUMMARY This bill adds a lower eligibility threshold for the JobsCT tax rebate program, which allows companiesinspecified industriesto earnrebates against the corporation business, pass-through entity, and insurance premiums taxes for reaching certain job creation targets.
The bill specifically makes qualified businesses with no more than 75 employees eligible for the program if they create and maintain five new full-time equivalent employees (FTEs) in Connecticut.
This is in addition to the qualifications under existing law that otherwise require any qualified business to create and maintain (1) 25 new FTEs or (2) 15 new FTEs if at least one is an individual with intellectual disability or at least three live in a concentrated poverty census tract.
The bill also makes technical and conforming changes.
EFFECTIVE DATE:
October 1, 2025 BACKGROUND JobsCT By law, a “qualified business” is subject to at least one of the above taxes and is in an industry related to finance, insurance, manufacturing, clean energy, bioscience, technology, digital media, or any similar industry, as determined by the Department of Economic and Community Development (DECD) commissioner.
Under existing law, new FTEs are those that did not exist in the state when the business applied to the DECD commissioner for acceptance into the program.
They exclude FTEs (1) acquired due to a merger or HB7268 / File No.
891 16 HB7268 File No.
891 acquisition;
(2) employed in the state by a related person (e.g., entities controlled by the business) within the previous 12 months;
or (3) hired to replace FTEs that existed in the state in the two-year period immediately before the date the business submits its rebate application.
To qualify as a new FTE, an employee must be paid wages sourced to the state of at least:
1.
the greater of (a) 85% of median household income for the FTE position’s primary location or (b) 120% of the state minimum wage on the date the business applies to DECD for a rebate, multiplied by 2,000 hours, or 2.
the greater of (a) at least 100% of the median household income for the municipality with the lowest median household income ofallmunicipalitiescontiguousto theposition’sprimary location or (b) 100% of statewide median household income.
By law, a business’s rebate is based on the (1) number of new FTEs created or maintained, (2) new FTEs’ average wage, and (3) state income tax that a single filer would pay on this average wage.
COMMITTEE ACTION Finance, Revenue and Bonding Committee Joint Favorable Yea 52 Nay 0 (04/24/2025) HB7268 / File No.
891 17
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Action History

  1. FILE NO. 891

  2. HOUSE CALENDAR NUMBER 586

  3. FAV. RPT., TABLED FOR HOUSE CALENDAR

  4. RPTD. OUT OF LCO

  5. REFERRED TO Office of Legislative Research AND Office of Fiscal Analysis 05/12/25

  6. FILED WITH LCO

  7. Joint Favorable

  8. PUBLIC HEARING 0416

  9. REF. TO JOINT COMM. ON Finance, Revenue and Bonding

Sponsorship breakdown

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0 sponsors · 0 co-sponsors · 187 not signed on

Sponsors (0)

None.

Co-sponsors (0)

None.

Not signed on (187)

187 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
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