This is just a guess;
A fuel return line from the fuel admission point on the carb is a way to purge air or hot fuel vapor from the line between the fuel pump and the carb. It would keep the fuel flowing in this line even at low idle, which would prevent the fuel from absorbing too much engine heat. This heated fuel is returned to the right tank on your plane, so cooler fuel can flow into the fuel line/carb.
The builder may have been concerned with possible vapor lock.
The valve would be open for ground operations on hot days, where heat soaking might be expected, but closed in flight to prevent the steady flow of fuel to the right tank?