AN ACT CONCERNING THE CALCULATION OF STATE FOREST LAND IN CERTAIN MUNICIPALITIES FOR PURPOSES OF GRANTS IN LIEU OF TAXES PAYMENTS.

This bill changes how state-owned forest land is valued for calculating grants in lieu of taxes payments to municipalities. It directly affects towns where over 50% of the land within their borders is state forest. Under the bill, the state will calculate the value of this forest land as taxable real property (like regular land) for grant purposes, rather than using the current method. This adjustment could increase grant payments to qualifying municipalities by aligning the valuation with the property tax system.