The proposed bill, General Assembly Proposed Bill No. 5129, aims to amend Title 12 of the general statutes by establishing a surcharge on high-value recreational vessels. The revenue generated from this surcharge will be specifically allocated to reducing and ultimately eliminating the property tax on motor vehicles. This initiative is intended to provide financial relief to vehicle owners by utilizing funds collected from owners of high-value recreational vessels.

The bill does not include any deletions from current law but introduces new legal language to implement the surcharge and designate the use of the revenue. The overarching goal of the legislation is to create a more equitable tax structure by shifting some of the tax burden from motor vehicle owners to those who own high-value recreational vessels.