Bill > S06753

This bill amends the education law to provide that the tax levy limit, which sets a cap on the amount of taxes a school district can levy, shall be equal to a zero percent increase over the prior year's tax levy if the difference between the total amount of taxes levied for the prior year and the tax levy limit results in a negative number. This ensures that school districts do not face a negative tax levy limit, which could result in a reduction in their tax revenue. The bill also requires school districts to submit certain information to state officials for the calculation and review of the tax levy limit.