Proposed Bill No. 5139 aims to amend Title 12 of the general statutes to introduce two significant changes regarding estate taxes. First, it establishes an estate tax recapture for estates that exceed the fifteen-million-dollar limit on estate tax liability. This provision is designed to ensure that larger estates contribute a fair share of taxes upon transfer. Second, the bill introduces an alternative minimum estate tax, which is intended to prevent the effective net tax rate on estates from falling below two percent, thereby ensuring a minimum level of taxation for all estates.

The bill does not specify any deletions from current law, focusing instead on the new insertions that create these tax provisions. The overall purpose of the legislation is to enhance the estate tax framework by implementing measures that target high-value estates and maintain a baseline tax rate, thereby promoting equity in the taxation of wealth transfers.