Raises the exclusion of certain indebtedness of school districts in cities with less than 125,000 inhabitants.

The bill amends the local finance law to raise the exclusion of certain indebtedness of school districts in cities with less than 125,000 inhabitants according to the latest federal census. It modifies the definition of indebtedness and the items to be included in the debt statement of such school districts. The changes aim to clarify and potentially expand the types of indebtedness that can be excluded when determining a school district's power to contract debt.

Raises the exclusion of certain indebtedness of school districts in cities with less than 125,000 inhabitants.

The bill amends the local finance law to raise the exclusion of certain indebtedness of school districts in cities with less than 125,000 inhabitants according to the latest federal census. It modifies the definition of indebtedness and the items to be included in the debt statement of such school districts. The changes aim to clarify and potentially expand the types of indebtedness that can be excluded when determining a school district's power to contract debt.