Bill > HB675

This bill establishes a cap on how much local school districts can increase their spending, specifically on appropriations that are funded by local property taxes, excluding funds for acquiring or constructing facilities. Until June 30, 2027, these appropriations cannot increase by more than the average annual change in the Consumer Price Index (CPI) over the previous five years, which is a measure of inflation. After that date, the allowable increase will be the greater of either the average annual change in Adequate Minimum Education Revenue (ADMR) used for calculating state education grants, or the average of the school district's appropriations over the past five years. If a school district wants to spend more than these limits, they will need a two-thirds majority vote from their legislative body for each specific article or vote that exceeds the cap, and these votes cannot be by voice. The bill also outlines procedures for the commissioner of the department of revenue administration to notify school districts of excess appropriations and for districts seeking emergency funding.

Budget and Finance, Education

https://gc.nh.gov/bill_Status/billinfo.aspx?id=512&inflect=2