AN ACT CONCERNING THE ESTATE AND GIFT TAXES AND THE USE OF THE REVENUE GENERATED FROM SUCH TAXES.

HB 5152 lowers the estate tax exemption threshold to $3.6 million (from higher current levels) and eliminates existing caps on estate and gift taxes. This change directly affects individuals or families transferring estates or large gifts exceeding $3.6 million, increasing tax liability for more estates. All revenue generated from these taxes must be deposited into the Early Childhood Education Fund, as specified in state law. The bill aims to redirect tax revenue toward early childhood education funding without altering tax rates or creating new tax categories.