The proposed bill, General Assembly Proposed Bill No. 67, aims to amend title 12 of the general statutes by establishing a cap on the aggregate amount of personal income tax revenue that the state may collect. This cap is intended to limit the total revenue generated from personal income taxes, ensuring that any amount collected beyond this cap is refunded to taxpayers on a pro rata basis.

The bill reflects a significant change in the state's approach to personal income tax revenue, emphasizing taxpayer protection by preventing excessive taxation. The introduction of this cap is designed to promote fiscal responsibility and transparency in tax collection, ultimately benefiting taxpayers by ensuring they are not overburdened by state income taxes.