The state, acting by and in the discretion of the Commissioner of Economic and Community Development, may, within available appropriations, enter into a contract with a municipality for state financial assistance in the form of a state grant-in-aid to the municipality not to exceed the amount of taxes abated by the municipality pursuant to section 8-451 for the assessment years beginning on October 1, 2023, and October 1, 2024. Such grant-in-aid shall be paid to the municipality in an amount not to exceed the amount of taxes abated for each such year.