nonprofits,local leaders & Grt.New Haven business sharing information
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 email@example.com.
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