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Medtronic and business groups urge passage of HB 7,008 to extend R&D tax credits to pass‑through entities
Summary
Medtronic and Connecticut Business & Industry Association told the Commerce Committee HB 7,008 would correct an inconsistency that prevents pass‑through entities from accessing state R&D tax credits, potentially boosting in‑state research investment and jobs.
Medtronic and business trade groups testified in favor of House Bill 7,008 in the Commerce Committee hearing on Wednesday, urging the legislature to allow pass‑through entities to claim Connecticut’s research and development (R&D) tax credit.
"Medtronic strongly supports HB 7,008," Jeffrey Becker, who leads Medtronic’s state government affairs team in the Eastern United States, told the committee. Becker said Medtronic employs "nearly 3,000 people in Connecticut and invest[s] over…
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