GNH Community

nonprofits,local leaders & Grt.New Haven business sharing information

Nonprofit Legislative Priorities - From the GNH Chamber's NP Council

We have been told by people in Hartford that it would be very helpful if nonprofits in New Haven (and indeed throughout the state) contacted Senator Martin Looney as soon as possible in support of revised Senate Bill 127, An Act Concerning Updates to the Neighborhood Assistance Act.  Can you help us get the word out to our colleagues? 

 

We have been trying to get the improvements contained in this revised bill for years now and finally, it looks like it might happen.  But we need to let state legislators – and in particular Senator Looney – know we want to see this bill passed.

 

Senator Looney’s email is looney@senatedems.ct.gov.

 

What this bill would do is expand the types of businesses eligible for tax credits under the program to include all businesses that pay the state’s $250 business unit tax.  This would include S corporations, LLCs and LLPs, all of which were previously excluded.  These businesses would have to donate at least $250 to receive a 60 percent credit, which would pass through to the owners of the business, to be claimed on their individual tax returns.  

 

The bill would increase the overall cap for donations from $75K to $100K, which should help nonprofits which have gotten substantial donations under the program from companies like UI.

 

The changes would take effect in 2012

 

It is really incredible that the Legislature is willing to allow any expansion of this program at all in this period of fiscal austerity.  In the legislature, things move ahead via increments, so if we can get these changes this year, we can work on further improvements in the future (when economic times, hopefully, are better).

 

The main person to reach right now is Senator Looney (who has championed these changes and should be thanked for doing so), but local state representatives and state senators can also be contacted and urged to support the measure when it comes before their respective chambers.

 

The legislature is wrapping up its current session next week, so time is of the essence, in terms of contacting people about this bill.

 

 

Thanks for your help

Views: 18

Comment

You need to be a member of GNH Community to add comments!

Join GNH Community

Welcome (Bienvenido, Benvenuto, Powitanie, Bonjour! Willkomme,歡迎, ברוךהבא أهلا وسهلا, Bonvenon) to GNH Community. Traducción de esta página

Imagine. Inform. Invest. Inspire.

Working together to build a stronger community - now and forever

 

 

Neighborhoods: What is Working

Open Street Project

Local Initiatives Support Corporation

Foreclosure Risk is Growing, With No Relief in Sight

Homeowners and small landlords are under mounting pressure, as lost income related to COVID-19 leaves them with month after month of unpaid debt and limited ability to catch up. The loss of wealth could impact the next generation and beyond, especially in communities of color, warns LISC’s Denise Scott. “Just as COVID-19 is having a disproportionate impact on the health of Black and Brown families, so too is it exacerbating our racial wealth gap, which already saps so much from our national potential.”

Unlocking Corporate Treasuries for Racial Equity: A Podcast with LISC's George Ashton

George Ashton III, who oversees LISC's Strategic Investments department, joined a recent episode of the podcast Money + Meaning to discuss LISC's Black Economic Development Fund. The conversation delved into the growth of CDFIs and their role in economic development and how more corporations can direct their capital towards systems change that promotes racial equity.

How CDFIs and the UN Can Align the Measure of their Common Goals

By adopting a set of universal benchmarks established by the United Nations—the UN Sustainable Development Goals or SDGs—Community Development Financial Institutions can streamline the way they measure and demonstrate the investments they've been making for decades to help create equity and wellbeing for people and places in the United States. A blog by LISC's Anna Smukowski and the OFN's Andrea Longton explains how and why.

© 2020   Created by Lee Cruz.   Powered by

Badges  |  Report an Issue  |  Terms of Service