The Connecticut Neighborhood Assistance Act (NAA) is a Tax Credit Program designed to encourage contributions from corporations to help fund tax exempt and municipal organizations that serve the public in the areas of Energy Conservation, Employment and Training, Child Care, Neighborhood Assistance and Substance Abuse to name a few.
Tax exempt and municipal organizations can qualify for this program by filing a state-provided application. Applications are available by clicking here or by visiting the Department of Revenue Services (DRS) website. Applications are due by June 1, 2020 and should be submitted directly to the Town Manager’s Office. The municipality’s role is primarily administrative. Therefore, interested organizations wishing to learn more about the program and/or have specific questions should visit the DRS website.
Applications are approved by the municipality’s governing body and forwarded to DRS. Once an organization is approved by the state, 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.