The governor has ordered a top-to-bottom review of Connecticut business tax credits to determine their effectiveness in creating jobs and to ensure the state is maximizing its investments, authorities say.
Gov. Dannel P. Malloy signed an executive order Thursday to create the nine-member Governor’s Business Tax Policy Review Taskforce.
The taskforce will be jointly headed by Department of Economic and Community Development Commissioner Catherine Smith and the Department of Revenue Services Commissioner Kevin Sullivan.
The executive order comes just weeks after State Comptroller Kevin Lembo sent a letter to legislative leaders, including Malloy, urging them to reconvene a special committee to study and evaluate the effectiveness of existing tax credits.
Malloy’s taskforce will report its findings and recommendations Oct. 1.
