Adjusts tax levy cap for school districts facing State school aid reductions.
The bill provides a tax levy cap adjustment for certain school districts experiencing reductions in State school aid. It allows for allowable adjustments to the tax levy growth limitation for districts that face a reduction in State school aid in the 2024-2025 school year or in any subsequent school year if they are spending below adequacy. The allowable adjustment is equal to the difference between the amount of State aid received in the previous school year and the amount received in the current school year.
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