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 seeks to amend the general statutes to incorporate these new provisions, thereby facilitating financial support for nonprofit organizations and enhancing their capacity to serve local populations effectively. The introduction of the tax credit program is intended to incentivize contributions to the fund, ultimately fostering a stronger nonprofit sector and improving community resources.