Establishes limits upon local government tax levies.

The bill amends the general municipal law to establish limits on local government tax levies. It modifies the definition of "local government" and "tax" to include certain charges and levies. The bill also introduces a new provision that limits tax levies when the normal contribution rate of the New York state teachers' retirement system increases by more than two percentage points from the previous year. This act takes effect immediately.

Establishes limits upon local government tax levies.

The bill amends the general municipal law to establish limits on local government tax levies. It modifies the definition of "local government" and "tax" to include certain charges and levies. The bill also introduces a new provision that limits tax levies when the normal contribution rate of the New York state teachers' retirement system increases by more than two percentage points from the previous year. This act takes effect immediately.