The proposed bill, General Assembly Proposed Bill No. 80, aims to amend section 12-701a of the general statutes to increase the personal income tax deduction for contributions to state-established qualified state tuition programs, specifically 529 plans. The bill proposes to raise the deduction limit for individual taxpayers from $5,000 to $7,500 and for taxpayers filing jointly from $10,000 to $12,500.

This change is intended to encourage more contributions to these educational savings accounts, thereby supporting families in saving for higher education expenses. The bill reflects a commitment to enhancing the financial resources available for education and making it more accessible for residents of the state.