Relating to: providing certain municipalities with additional supplemental county and municipal aid and establishing a Shared Revenue Advisory Council. (FE)

SB 694 establishes a Shared Revenue Advisory Council to study and recommend improvements to how state aid is distributed to counties and municipalities. The council, composed of legislative leaders, municipal/town/county association representatives, and the revenue secretary, will analyze population, property value, and revenue data to evaluate current aid formulas. It requires the council to recommend a new distribution formula for 2027 and beyond that maintains or increases aid for all jurisdictions, while accounting for population changes and property value declines. The bill also sets a baseline funding level of $16,257,500 for supplemental aid in fiscal year 2026-27, with annual adjustments based on tax revenue changes.