The proceeds from it are added to the required amount that the State Legislature is required to expend for educational adequacy grants to the various districts, and any monies expended toward the State University system.
2021 was a record... I don't know the final sum (didn't bother to look at TransparentNH for the answer)... but the media outlets were reporting around $130 million.
So that money is added to other monies in unrestricted funds - like business taxes - and used to cover the costs.
I believe if I were to check, just the city of Laconia spends roughly $43M on education... so we have a fair share of educational costs picked up by local property taxes... as local voters decide what the local school budgets would be, and thus must pick up the cost of their decision.
We can lower our local educational costs by cutting to only the State requirements... but choose not to.
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