The proposed bill, General Assembly Proposed Bill No. 5985, aims to establish a Community Endowment Fund along with a tax credit program for contributions made to this fund. The contributions collected will be utilized to support nonprofit infrastructure and address local needs within the community.

The bill introduces new legal language to amend the general statutes, specifically creating the framework for the Community Endowment Fund and the associated tax credit program. There are no deletions from current law mentioned in the text of the bill. The overall purpose is to enhance support for nonprofit organizations and improve community resources through financial contributions incentivized by tax credits.