Provides that the tax levy limit shall be equal to a zero percent increase over the prior year tax levy when the difference between the total amount of taxes levied for the prior year less the tax levy limit results in a negative number.
Provides that the tax levy limit shall be equal to a zero percent increase over the prior year tax levy when the difference between the total amount of taxes levied for the prior year less the tax levy limit results in a negative number.
Provides that a capital tax levy shall not be included within the definition of "tax levy limit"; defines "capital local expenditures" and "capital tax levy".
Relates to school boards approving a budget that exceeds the tax levy limit by a sixty percent vote; requires subsequently it must be approved by a majority of the qualified voters.