Increases distribution to municipalities from Energy Tax Receipts Property Tax Relief Fund over five years to restore municipal aid reductions; requires additional aid to be subtracted from municipal property tax levy.

This bill (A 3145) increases state aid to New Jersey municipalities from the Energy Tax Receipts Property Tax Relief Fund over five years to reverse previous aid cuts. It directly affects all municipalities by requiring them to reduce their annual property tax levies by the amount of the additional state aid received. Key provisions update how the fund's distributions are calculated and require that new aid amounts be subtracted from each municipality's local tax levy. The bill modifies existing laws (P.L.1997, c.167 and P.L.2007, c.62) to implement this adjustment. It does not change the total annual fund amount but ensures municipalities cannot increase their tax burden while receiving more state aid.