The bill H.178 proposes to refund education property tax overpayments made by the City of Barre and the Town of Milton due to miscalculations regarding the retention of tax increment from their respective tax increment financing district funds. Specifically, the bill stipulates that the City of Barre will receive a transfer of $437,028 from the Education Fund to compensate for overpayments made between fiscal years 2016 and 2020. Similarly, the Town of Milton is set to receive $184,451 from the Education Fund for overpayments made from fiscal years 2017 through 2023.

The bill includes provisions that ensure these funds are transferred by fiscal year 2026 and states that it will take effect upon passage. The language inserted into the bill clarifies the amounts to be refunded and the timeframes for both municipalities, while there are no deletions from current law noted in the text.