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

S 4614 requires that any revenue from new or increased state taxes be deposited into a special fund. This fund then distributes payments annually to all cities, villages, and towns (outside villages) based on their proportion of the state's total property value. The payments must be used directly to lower each municipality's local property tax levy, reducing residents' property tax bills. The bill takes effect January 1, 2026, after passing committee referral.