This bill proposes amendments to RSA 76:8 regarding the allocation of excess statewide education property tax funds. Specifically, it introduces new provisions that allow any excess funds collected by a municipality beyond the adequacy grant under RSA 198:40-a to remain with that municipality for the benefit of its school district or districts. The bill also mandates that when the commissioner issues a warrant for tax assessments, they must report to various state officials, including the chairs of the senate and house education committees, about the education tax warrants for the upcoming tax year.

Additionally, the bill modifies the existing legal framework by adding the requirement for the commissioner to include the chairs of the education committees in the reporting process, thereby enhancing legislative oversight. The effective date for these changes is set for April 1, 2026. Overall, the bill aims to provide municipalities with greater control over excess education tax funds, ensuring that they can utilize these resources for local educational needs.

Statutes affected:
Introduced: 76:8