The proposed bill, General Assembly Proposed Bill No. 5010, aims to amend Title 12 of the general statutes to exempt tips or gratuities declared by a taxpayer, as well as overtime pay, from the personal income tax. This legislative change is intended to provide financial relief to individuals who receive tips or work overtime, thereby potentially increasing their disposable income.

The bill introduces new legal language that specifies the exemption of these income sources from taxation, while no deletions from current law are noted in the text provided. The overarching goal of the bill is to alleviate the tax burden on workers who rely on tips and overtime compensation, promoting fairness in the tax system.