AN ACT ESTABLISHING A QUALIFIED PRODUCTION PROPERTY DEDUCTION.

HB 5203 would create a state tax deduction in Connecticut that matches the federal "qualified production property" deduction businesses claim. It directly affects Connecticut businesses that use the federal deduction for costs like machinery or equipment used in manufacturing. The bill’s key provision would amend state tax law to automatically allow the same deduction amount claimed at the federal level. This aligns Connecticut’s tax code with federal practice without changing existing federal rules. The bill does not alter the federal deduction or create new eligibility criteria for businesses.