NAA Tax Credit Program

The Connecticut Neighborhood Assistance Act (NAA) Tax Credit Program is designed to provide funding for municipal and tax exempt organizations by providing a corporation business tax credit for businesses who make cash contributions to these entities.

Businesses can receive a credit of 60% of their approved contribution to certain programs (or 100% in the case of certain energy conservation programs) approved by the Department of Revenue Services. Any tax credit that is not taken in the income year in which the contribution was made may be carried back to the two immediately preceding income years (beginning with the earlier of such years).

The program has several statutory limits, including the following:

• A business is limited to receiving $150,000 in tax credit annually.

• A non-profit organization is limited to receiving $150,000 in contributions in the aggregate.

• The minimum contribution on which credit can be granted is $250.

• The program has a five million dollar cap, which, if exceeded, results in proration of approved donations.

The City of Hartford is now accepting applications for the State of Connecticut Department of Revenue Services (CT DRS) 2024 Neighborhood Assistance Act (NAA) Tax Credit program.

NAA applications shall only be submitted electronically (PDF-Format) to Damaris Diaz at Damaris.Gonzalez@hartford.gov, no later than 5:00 PM on Friday, March 29, 2024. Proposals that are incomplete will not be accepted. Please do not mail or drop off physical copies to the Office of Management & Budget.

Public hearing TBD

The following Municipal Information should be included with your Hartford NAA Applications:

Part IV — Municipal Information

Name of municipal agency overseeing implementation of the program: City of Hartford

Mailing address: City of Hartford, Office of Management & Budget, 550 Main Street, Suite 204, Hartford, CT 06103

Name of municipal liaison: Damaris Diaz

Telephone number: 860-757-9550

Fax number: 860-722-6158

Email address: Damaris.Gonzalez@hartford.gov

* Pease Note: The NAA Post Project Audit Form is available to download and is required to be filled and emailed back to Damaris Diaz at Damaris.Gonzalez@hartford.gov if your organization was awarded more than $25,000 of approved business contribution.