Connecticut § 12-217ff Tax credit for donation of land for educational use. No credit allowed on or after January 1, 2013.

Connecticut Statutes

§ 12-217ff — Tax credit for donation of land for educational use. No credit allowed on or after January 1, 2013.

Connecticut § 12-217ff

Title 12Taxation

Ch. 208Corporation Business Tax

This text of Connecticut § 12-217ff (Tax credit for donation of land for educational use. No credit allowed on or after January 1, 2013.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 12-217ff (2026).

Text

(a)For purposes of this section, “donation of land for educational use” means the value of any land or interest in land conveyed without financial consideration, or the value of any discount of the sale price in any sale of land or interest in land, to any municipality or political subdivision of the state for educational use, as defined in section 16-43b.

(b)There shall be allowed a credit for all taxpayers against the tax imposed under section 12-217 , in an amount equal to fifty per cent of any donation of land for educational use. For purposes of calculating the credit under this section the amount of donation shall be based on the difference between the use value of the donated land and the amount received for such land. For the purposes of this subsection, “use value” means a fair

Free access — add to your briefcase to read the full text and ask questions with AI

(a) For purposes of this section, “donation of land for educational use” means the value of any land or interest in land conveyed without financial consideration, or the value of any discount of the sale price in any sale of land or interest in land, to any municipality or political subdivision of the state for educational use, as defined in section 16-43b. (b) There shall be allowed a credit for all taxpayers against the tax imposed under section 12-217 , in an amount equal to fifty per cent of any donation of land for educational use. For purposes of calculating the credit under this section the amount of donation shall be based on the difference between the use value of the donated land and the amount received for such land. For the purposes of this subsection, “use value” means a fair market value of land at its highest and best use, as determined by a certified real estate appraiser. (c) A credit that is allowed under this section, with respect to any taxable year commencing on or after January 1, 2004, but is not used by a taxpayer may be carried forward to each of the successive income years until such credit is fully taken. In no case shall a credit that is not used be carried forward for a period of more than fifteen years. (d) No tax credit shall be allowed under this section with respect to any donation of land for educational use made on or after January 1, 2013. See Sec. 12-217dd re tax credit for donation of land for educational use.

Legislative History

(P.A. 04-200, S. 4; P.A. 13-232, S. 9.) History: P.A. 04-200 effective June 3, 2003; P.A. 13-232 added Subsec. (d) re discontinuation of credit on or after January 1, 2013, effective July 1, 2013, and applicable to income years commencing on or after January 1, 2013.