relative to excess funds paid to municipalities for the use of school districts.

This bill establishes a process for municipalities to return excess education property tax payments to the state for deposit into the education trust fund. It requires local governments to submit these surplus funds by March 15 each year, ensuring that only the actual excess amount is remitted while allowing municipalities to keep any remaining balance for unrestricted use. The legislation also mandates the creation of specific reporting forms and updates the timeline for issuing tax warrants to ensure the correct calculation and transfer of these funds. Effective July 1, 2024, the changes clarify how the state determines education grants by subtracting these excess payments from the total tax warrant issued to municipalities.