The proposed bill, General Assembly Proposed Bill No. 5086, aims to amend the general statutes to ensure that the state fully reimburses municipalities for any revenue loss incurred due to property tax exemptions granted to veterans. This reimbursement is specifically related to the provisions outlined in subdivision (83) of section 12-81 of the general statutes, which addresses the property tax credit for veterans.

The bill seeks to provide financial relief to municipalities that may experience budgetary constraints as a result of these tax exemptions. By mandating full reimbursement from the state, the legislation intends to alleviate the fiscal impact on local governments and support their ability to maintain essential services for all residents.