HB 734 (2025)

Requires towns to send all revenue from the statewide education property tax to the state's General Fund of all tax revenue, rather than keep excess revenue in-town. This bill then modifies the procedure for calculating how much the state sends to each school district for school funding, and increases the total amount of funding each year according to the Consumer Price Index of inflation. The bill then increases eligibility for low- and moderate-income homeowners property tax relief. Lastly, the bill establishes a committee to study the tax relief program.