Connecticut legislation · 2025 General Assembly
Connecticut HB7175: AN ACT ESTABLISHING A FARM INVESTMENT TAX CREDIT AND INCREASING THE FARM MACHINERY PROPERTY TAX EXEMPTION AMOUNT.
Status: Introduced, March 6, 2025
What the bill says
An act establishing a farm investment property tax credit and increasing the farm machinery property tax exemption amount. assembly convened.
From the introduced text:
AN ACT ESTABLISHING A FARM INVESTMENT PROPERTY TAX CREDIT AND INCREASING THE FARM MACHINERY PROPERTY TAX EXEMPTION AMOUNT. Assembly convened: Section 1. (NEW) (Effective January 1, 2026, and applicable to income and taxable years commencing on or after January 1, 2026) (a) As used in this section: (1) "Eligible farmer" means a taxpayer in this state whose federal gross income from farming for the income or taxable year is at least twothirds of excess federal gross income; (2) "Excess federal gross income" means the amount of federal gross income from all sources for the income or taxable year in excess of thirty thousand dollars; (3) "Agricultural production" has the same meaning as provided in subdivision (63) of section 12-412 of the general statutes; (4) "Farm investment property" means machinery and equipment LCO No. 4521 1 of Raised Bill No. 7175 that are acquired by purchase by an eligible farmer on or after January 1, 2026, and buildings and structural components of buildings that are acquired, constructed, reconstructed or erected by an eligible farmer and placed in service on or after January 1, 2026, and (A) are situated in this state, (B) have a class life of more than four years, as described in Section 168(e) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of …
Sponsors
- Tony Scott (R, 112) · primary sponsor
- Ben McGorty (R, 122)
- Wood, Kerry S. (D, 29)
- Irene Haines (R, 34)
- Joseph Gresko (D, 121)
- Mark DeCaprio (R, 48)
- Michael Quinn (D, 82)
- William Heffernan (D, 115)
- Mitch Bolinsky (R, 106)
- Timothy Ackert (R, 8)
- Amy Romano (R, 113)
- Tammy Nuccio (R, 53)
Latest actions
- : Reported Out of Legislative Commissioners' Office
- : Favorable Report, Tabled for the Calendar, House
- : House Calendar Number 582
- : File Number 887
- : Referred to Office of Legislative Research and Office of Fiscal Analysis 05/12/25 12:00 PM
- : Joint Favorable Substitute
- : Filed with Legislative Commissioners' Office
- : Public Hearing 03/14
- : Referred to Joint Committee on Finance, Revenue and Bonding
Common questions
- What is HB7175?
- HB7175 is a bill in the Connecticut Legislature (2025 General Assembly): AN ACT ESTABLISHING A FARM INVESTMENT TAX CREDIT AND INCREASING THE FARM MACHINERY PROPERTY TAX EXEMPTION AMOUNT.
- What does HB7175 do?
- In its own words: An act establishing a farm investment property tax credit and increasing the farm machinery property tax exemption amount. assembly convened.
- What is the status of HB7175?
- Introduced as of March 6, 2025. Latest action: Reported Out of Legislative Commissioners' Office (May 12, 2025).
- Who sponsored HB7175?
- Tony Scott (R, 112), with 11 co-sponsors.
- Where is the official record for HB7175?
- On the Connecticut Legislature website: https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB07175&which_year=2025
Source: official Connecticut record. Tracked by Delilah, AI for legislation across all 50 states and Congress.