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Bill > A442


NJ A442

NJ A442
Provides adjustment to school district tax levy cap for expenditures associated with opening of new school facility during budget year.


summary

Introduced
01/09/2024
In Committee
01/09/2024
Crossed Over
Passed
Dead

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill authorizes an adjustment to the school district tax levy cap for expenditures incurred by the district in connection with the opening of a new school facility during the budget year. The allowable adjustment will include costs associated with the new facility that are related to new teaching staff members, support staff, materials and equipment, custodial and maintenance expenditures, and other costs as may be determined by the Commissioner of Education. It is unrealistic to expect a school district to accommodate within its base 2% tax levy increase the new costs that will be incurred by the district in the first year that it opens a new school facility. This bill will allow a school district to increase its tax levy in that first year of the school's operation to reflect these new facility-related expenditures.

AI Summary

This bill authorizes an adjustment to the school district tax levy cap to account for the new costs associated with opening a new school facility during the budget year. The allowable adjustment includes expenses related to new teaching staff, support staff, materials and equipment, custodial and maintenance, and other costs determined by the Commissioner of Education. This is intended to address the unrealistic expectation for a school district to accommodate the new facility-related costs within the base 2% tax levy increase in the first year of the school's operation.

Committee Categories

Education

Sponsors (1)

Last Action

Introduced, Referred to Assembly Education Committee (on 01/09/2024)

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