Provides for direct property tax relief from Highlands Property Tax Stabilization Fund.

This bill would change how property tax relief is applied to residents in municipalities affected by the Highlands Water Protection and Planning Act. It would require that the tax credit be applied directly to each line item on property tax bills rather than just reducing the total amount owed. The credit would be calculated by multiplying a tax rate (determined by dividing total stabilization aid by total taxable property value) by each property's taxable value. This change would make the tax relief more directly visible on individual tax bills. The bill would affect property taxpayers in municipalities located within the Highlands preservation area.