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 an additional 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 increase its adjusted tax levy for that year by any amount available under the cap banking provisions of the law.

Furthermore, the bill includes measures for temporary budgets while awaiting voter approval of the proposed additional funds. If voters authorize the funding, the district must submit a final budget to the commissioner within 15 days; if not approved, the temporary budget will become the final budget for that school year. The legislation emphasizes the importance of demonstrating administrative efficiency before districts can raise additional funds, ultimately aiming to enhance budget planning and program implementation for districts facing timing challenges in tax collection.

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