Proposed Bill No. 5185 aims to amend Title 12 of the general statutes to introduce a surcharge on net gains from the sale or exchange of capital assets, as well as on income from dividends. This surcharge will apply specifically to taxpayers whose Connecticut adjusted gross income meets or exceeds the threshold for the highest marginal tax rate as outlined in section 12-700 of the general statutes.

The purpose of this legislation is to create a capital gains and dividends surcharge for high-income taxpayers, thereby increasing the tax burden on those with greater financial means. The bill does not specify any deletions from current law, focusing solely on the new insertion of the surcharge provisions.