SECTION 1. Section 3 of Chapter 64G of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by adding the following: The state shall reimburse taxes collected from this section, excluding those taxes subject to Chapter 10 Section 35J of the General Laws, back to the towns they originated from if such towns receive less than 25% of their school district foundation budget paid by the state as certified in the yearly state budget 15 days after such budget is signed into law. The amount of such reimbursement shall be equal to the difference between 25% of a school district’s foundation budget and the percentage below 25% assigned to the school district in the yearly state budget.
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