The proposed bill, General Assembly Proposed Bill No. 104, aims to amend title 12 of the general statutes to establish a cap on the aggregate amount of personal income tax revenue that the state of Connecticut may collect. The bill stipulates that any revenue collected beyond this established cap would be refunded to taxpayers on a pro rata basis.

This legislative change is intended to provide a limit on state income tax revenue, ensuring that taxpayers are not overburdened by excessive taxation. The bill reflects a commitment to fiscal responsibility and taxpayer equity by mandating refunds for any excess revenue collected beyond the set cap.