This bill modifies the procedure for fire district boards of commissioners in New Jersey to request an exemption from the two percent property tax levy cap. Under current law, fire districts, along with other local units, must submit a public question to voters to increase the amount raised by taxation beyond the allowable adjusted tax levy. The proposed legislation introduces a new provision allowing fire districts to seek approval directly from the Local Finance Board for such increases. The Local Finance Board is required to consider any relevant changes in appropriations or revenues when making its decision.

Additionally, the bill stipulates that any decision made by the Local Finance Board to reject an increase to the tax levy cap will be final and conclusive for the fiscal year in question, with no options for appeal, review, or waiver applications. This change aims to streamline the process for fire districts seeking to adjust their tax levies while ensuring that the Local Finance Board evaluates the necessity of such requests based on specific financial circumstances. The act will take effect immediately and apply to fire district budgets adopted after its enactment.

Statutes affected:
Introduced: 40A:4-45.46