This bill provides school districts that have transitioned their annual elections to November with the ability to submit separate proposals for additional funding for both the current and subsequent budget years. It allows these districts to seek voter approval for raising the general fund tax levy for specific program purposes. A significant provision states that if a district's proposal for the subsequent budget year is approved, it cannot add that amount to its adjusted tax levy for that year, thereby ensuring that districts cannot exceed the cap banking provisions.

Furthermore, the bill amends existing laws regarding budget submissions and approval processes for additional funding. It mandates that if voters authorize additional funds, the district must submit the final budget to the commissioner within 15 days. If the proposal is rejected, the temporary budget will serve as the final budget for that school year. The bill also clarifies that proposals to increase the tax levy must not include funding for programs necessary for students to meet core curriculum standards and requires clear statements detailing the purpose of the requested funds. The act is set to take effect immediately, applying first to the 2024-2025 school year.

Statutes affected:
Introduced: 18A:7F-5, 18A:7F-5.4, 18A:7F-5.5, 18A:7F-5.6, 18A:7F-37, 18A:7F-39