A proposal before Connecticut’s Legislature that would allow companies to use stagnant tax credits to expand their operations could provide a significant boost to the state’s economy, many business leaders argue.

The legislation, currently before the General Assembly’s Finance Committee, would allow companies that have amassed research and development tax credits over the years to use those credits for capital improvement projects.

Officials with Ridgefield-based Boehringer Ingelheim said they have a “significant” amount of credits at their disposal earned through past research and development spending that could be use to expand operations in Connecticut if the proposal moves forward.

 
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