The proposed bill, General Assembly Proposed Bill No. 5066, aims to amend section 12-701 of the general statutes to enhance personal income tax deductions for seniors. Specifically, the bill introduces a requirement that the qualifying income threshold for these deductions be indexed to reflect the rate of inflation. This adjustment is intended to ensure that seniors can benefit from tax deductions that keep pace with rising living costs.

The bill does not specify any deletions from the current law but focuses on the insertion of the new indexing requirement for the income threshold. By linking the threshold to inflation, the bill seeks to provide financial relief to seniors, acknowledging the economic challenges they may face as costs increase over time.