A-1767
Excludes certain increases in school security expenditures from tax levy and appropriation cap, as applicable, for municipalities and counties
Sponsored by: Assemblymen WAYNE P. DEANGELO District 14 (Mercer and Middlesex), Assemblyman SEAN T. KEAN District 30 (Monmouth and Ocean), Assemblyman DANIEL R. BENSON, District 14 (Mercer and Middlesex)
Co-Sponsored by: Assemblyman Thomson
STATEMENT
Under current law, municipalities may increase their tax levies, with certain exceptions, by no more than two percent relative to the prior budget year. Similarly, municipalities may not increase their total appropriations, and counties may not increase their tax levies, by more than the lesser of 2.5 percent or the cost of living adjustment relative to the prior year. This bill provides that any annual increase in expenditures on school security costs in excess of two percent incurred by either of these entities will be excluded from the applicable limit.