The proposed bill, General Assembly Proposed Bill No. 5017, aims to amend section 12-704c of the general statutes to enhance the property tax credit against the personal income tax for individuals' primary residences or motor vehicles. Specifically, the bill seeks to double the maximum allowable credit that taxpayers can claim for their primary residence or motor vehicle. Additionally, it proposes to double each qualifying Connecticut adjusted gross income threshold outlined in the same section.

This legislative change is intended to provide greater financial relief to taxpayers by increasing the benefits associated with the property tax credit, thereby potentially reducing the overall tax burden for individuals in Connecticut. The bill reflects a commitment to support residents by making adjustments to the existing tax framework to better accommodate their financial needs.