SB 383-FN is a legislative proposal aimed at modifying the budget cap regulations for school districts in New Hampshire. The bill seeks to revise RSA 32:5-b by including both operating budgets and all other warrant articles with a tax impact in the calculation of the estimated amount of local taxes to be raised. It introduces a new formula to adjust the tax cap based on inflation and population or attendance changes, utilizing indices such as the Consumer Price Index (CPI) or the Municipal Cost Index (MCI). The bill also defines terms related to this calculation, such as "attendance," "base amount," and "population." Furthermore, it details the process for adopting a school district budget cap under RSA 32:5-d, which would limit the total amount raised and appropriated for the fiscal year. This cap is tied to the current per pupil cost and adjusted for inflation, with a 3/5 majority vote required to override it. For multi-year expenditures, only the first-year estimated costs are considered for the budget cap.

The bill also addresses the application of the budget cap to the official ballot form of meeting and the school administrative unit (SAU) budget procedure. It clarifies that the amendments to RSA 32:5-b will apply to previously adopted local tax caps without the need for local amendment or re-adoption. The fiscal note attached to the bill indicates that it will not have an impact on state, county, and local expenditures or revenue. The bill is intended to become effective 60 days after its passage. The summary does not mention any specific insertions or deletions of legal language, suggesting that the bill may introduce new provisions to the existing law rather than altering current text.

Statutes affected:
Introduced: 32:5-b
As Amended by the Senate: 32:5-b
As Amended by the House: 32:5-b
Version adopted by both bodies: 32:5-b