The proposed bill, General Assembly Proposed Bill No. 5203, aims to amend title 12 of the general statutes to introduce a state tax deduction that aligns with the federal qualified production property deduction claim. This new legal language will allow taxpayers in the state to benefit from a deduction equivalent to the amount they claim federally for qualified production property.

The bill does not specify any deletions from current law, focusing solely on the insertion of the new provision for the state tax deduction. The intent behind this legislation is to provide financial relief and encourage production activities within the state by mirroring the federal tax benefits available to businesses engaged in qualified production.