Connecticut legislation · 2026 General Assembly
Connecticut HB5319: AN ACT CONCERNING A RESEARCH AND DEVELOPMENT TAX CREDIT FOR SMALL BUSINESSES.
Status: In committee, March 12, 2026
What the bill says
An act concerning a research and development tax credit for small businesses. assembly convened.
From the introduced text:
AN ACT CONCERNING A RESEARCH AND DEVELOPMENT TAX CREDIT FOR SMALL BUSINESSES. Assembly convened: Section 1. (NEW) (Effective from passage and applicable to taxable years commencing on or after January 1, 2026) (a) For purposes of this section: (1) "Research and development expenses" means research or experimental expenditures deductible under Section 174 of the Internal Revenue Code of 1986, as in effect on May 28, 1993, determined without regard to Section 280C(c) of said code or to any elections made by a taxpayer to amortize such expenditures that were otherwise deductible on its federal income tax return; and basic research payments, as defined in Section 41 of said code; that (A) are paid or incurred for such research and experimentation and basic research conducted in the state, and (B) are not funded by a grant, contract or governmental entity or a person other than the taxpayer; (2) "Commissioner" means the Commissioner of Economic and Community Development; LCO No. 1994 1 of Raised Bill No. 5319 (3) "Qualified small business" means a partnership or an S corporation, as both terms are defined in section 12-699 of the general statutes, that (A) has gross income for the previous taxable year that does not exceed seventy million dollars, and (B) has not, in the determination of the commissioner, exceeded such gross income threshold …
Sponsors
- Patrick Boyd (D, 50) · primary sponsor
- Tom Delnicki (R, 14)
- Christopher Poulos (D, 81)
- Wood, Kerry S. (D, 29)
- Michael Quinn (D, 82)
- Savet Constantine (D, 42)
- Hector Arzeno (D, 151)
Latest actions
- : Favorable Change of Reference, Senate to Committee on Finance, Revenue and Bonding
- : Favorable Change of Reference, House to Committee on Finance, Revenue and Bonding
- : Reported Out of Legislative Commissioners' Office
- : Filed with Legislative Commissioners' Office
- : Joint Favorable Change of Reference Finance, Revenue and Bonding
- : Public Hearing 03/03
- : Referred to Joint Committee on Commerce
Votes
- CE Vote Tally Sheet (Joint Favorable Change of Reference) (March 5, 2026): 20 yea, 0 nay, passed
Subjects: Corporation business tax credits for research and development expenses, Small businesses, Economic and Community Development, Department of
Common questions
- What is HB5319?
- HB5319 is a bill in the Connecticut Legislature (2026 General Assembly): AN ACT CONCERNING A RESEARCH AND DEVELOPMENT TAX CREDIT FOR SMALL BUSINESSES.
- What does HB5319 do?
- In its own words: An act concerning a research and development tax credit for small businesses. assembly convened.
- What is the status of HB5319?
- In committee as of March 12, 2026. Latest action: Favorable Change of Reference, Senate to Committee on Finance, Revenue and Bonding (March 12, 2026).
- Who sponsored HB5319?
- Patrick Boyd (D, 50), with 6 co-sponsors.
- Where is the official record for HB5319?
- On the Connecticut Legislature website: https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05319&which_year=2026
Source: official Connecticut record. Tracked by Delilah, AI for legislation across all 50 states and Congress.