The proposed bill, General Assembly Proposed Bill No. 47, aims to amend title 12 of the general statutes to introduce a personal income tax deduction for tips or gratuities. Specifically, the bill establishes a deduction of up to twenty-five thousand dollars for taxpayers who are employed in occupations that the Internal Revenue Service recognizes as customarily and ordinarily receiving tips.

This legislation seeks to provide financial relief to individuals in the service industry by allowing them to deduct a significant portion of their reported tips from their taxable income, thereby potentially reducing their overall tax burden. The bill does not include any deletions from current law, focusing solely on the new insertion of the tax deduction provision.