Relates to directing any moneys derived from new or increased taxes to reduce local real property taxes

This bill requires that money collected from new or higher state taxes (after its effective date) be deposited into a special fund. Each city, village, or town receives a share of these funds based on its property value relative to the state total. The funds must be used directly to reduce local property tax levies, lowering bills for homeowners and businesses in those municipalities. The first payments begin April 1, 2026, and are distributed annually.