The proposed bill, General Assembly Proposed Bill No. 385, seeks to amend current statutes by imposing a capital gains tax on endowment funds of institutions of higher education that exceed a valuation of five hundred thousand dollars per student for a taxable year. This new tax aims to generate revenue that will be specifically allocated to reduce the contributions required from participants in the Paid Family and Medical Leave Insurance Program, as outlined in section 31-49g of the general statutes. The bill introduces the capital gains tax on endowment funds while also specifying the dedication of the revenue generated from this tax to support the Paid Family and Medical Leave Insurance Program. There are no deletions from current law mentioned in the text of the bill. The overall purpose is to create a new funding source for a program that supports family and medical leave, thereby enhancing financial support for participants in that program.