HARTFORD, CT — Gov. Dannel P. Malloy vetoed a bill Wednesday that would allow owners or shareholders of pass-through entities like S corporations, partnerships or limited liability companies to use the manufacturing apprenticeship tax credit against their personal income tax liability.
The bill would cost Connecticut $650,000 in revenue per year.
Malloy said the legislature failed to account for the revenue loss as part of the budget they passed and he signed into law.
“While I have steadfastly supported and initiated efforts to encourage more hiring in the technology and manufacturing sectors, such efforts should not be used to shield individual investors from paying their fair share for state services, especially when the cost is not offset by spending cuts or other revenue,” Malloy said.
The bill passed unanimously through both chambers, which means there was enough support to override a veto. However, lawmakers have had little appetite to return to the state Capitol in an election year.
As of Wednesday, Malloy has signed 114 bills this session, vetoed two and allowed one to become law without his signature.