Provides for state aid for certain cities, towns, villages or fire districts adversely affected by a concentration of tax exempt property

This bill provides state funding to cities, towns, villages, or fire districts where tax-exempt property (like schools or government buildings) makes up over 35% of total property value, as this reduces local tax revenue. The state will pay eligible areas a sum based on two equal parts: 50% distributed by population proportion and 50% based on each area's share of tax-exempt property value. Payments require annual budget appropriations and apply to property assessments after the bill's effective date. It directly affects local governments struggling with revenue shortfalls due to high concentrations of tax-exempt land.