DRS Reopens the Application Period for Businesses to Participate in the 2020 NAA Program
As a result, businesses have additional time to consider whether to sponsor a project listed on the 2020 Approved Neighborhood Assistance Act Program Proposals. If a business determines that it wants to sponsor one of these approved projects, it must submit a Form NAA-02, 2020 Connecticut Neighborhood Assistance Act Business Application Form, to the DRS on or before November 15, 2020. Businesses electing to participate in the 2020 NAA program are eligible to receive a tax credit in exchange for contributions made in support of an approved project.
This new application period only applies to businesses that wish to sponsor or make a contribution to a project listed on the 2020 Approved Neighborhood Assistance Act Program Proposals. This does not extend the time for adding projects to the list and does not impact projects approved in previous years. The complete list of the 2020 Approved Neighborhood Assistance Act Program Proposals is posted on the DRS website at https://portal.ct.gov/DRS/Credit-Programs/Neighborhood-Assistance/Neighborhood-Assistance-Act-Tax-Credit-Program, along with additional information regarding the NAA program.E-mail any questions to DRS.TaxResearch@po.state.ct.us or contact 860-297-5687 for more information.