Each municipality which issues and renews registrations for aircraft in accordance with this section and sections 13b-39a to 13b-39f, inclusive, may retain for its own use and purposes, as a grant in lieu of property taxes, all revenue received from the receipt of aircraft registration fees. On or before February 1, 2024, and annually thereafter, each such municipality shall furnish the executive director with a report concerning the number of registrations issued, the names of registrants and the descriptions of aircraft registered during the preceding calendar year.