The proposed bill, General Assembly Proposed Bill No. 5057, aims to amend section 12-701 of the general statutes to introduce a personal income tax deduction specifically for tips or gratuities declared by taxpayers during the taxable year. This change is intended to provide financial relief to individuals who earn income through tips, recognizing the importance of these earnings in their overall income.

The bill does not specify any deletions from current law but focuses solely on the insertion of the new provision for the tax deduction. By allowing taxpayers to deduct the amount of tips or gratuities they declare, the bill seeks to enhance the fairness of the tax system for those who rely on such income.