This bill proposes an appropriation for state turnback funds to be distributed to counties and municipalities by the Office of the Treasurer of State for the fiscal year ending June 30, 2027. It includes specific allocations from the Municipal Aid Fund and County Aid Fund, with a total of $29,372,099 designated for general revenues to cities, $215,000,000 for special revenues to cities, $21,428,616 for general revenues to counties, and $230,000,000 for special revenues to counties. Additionally, the bill allocates $15,000,000 for unanticipated special revenues to counties and $10,000,000 for cities, as well as $300,000,000 for property tax relief to counties and $2,000,000 each for counties and cities from the Property Tax Relief Trust Fund.

The bill also includes provisions for loans to assist cities and counties with cash flow needs, with specified amounts to be transferred from the Budget Stabilization Trust Fund. It establishes guidelines for the carry forward of unexpended funds and emphasizes compliance with existing fiscal control laws. Notably, the bill contains an emergency clause, stating that its effectiveness on July 1, 2026, is crucial for the operation of the relevant agencies, thereby ensuring the timely distribution of funds necessary for essential governmental programs.