NJ A2784

School districts that have moved their annual elections to November may submit separate ballot proposals for additional spending for both the current budget year and the subsequent budget year, rather than being limited to a single year

If voters approve a separate proposal for additional funds for the subsequent budget year, the school district cannot also add "banked cap" amounts (unused tax levy capacity from prior years) to that subsequent year's adjusted tax levy

Eliminates provisions requiring voter-rejected budgets to be submitted to municipal governing bodies for determination, streamlining the process for districts with boards of school estimate

Districts submitting separate proposals for additional funds for the current budget year must adopt a temporary budget pending voter approval, with the temporary budget becoming final if voters reject the proposal

The act takes effect immediately and applies to the first full school year following enactment