NY A06976

Caps annual tax levy increases for local governments and school districts at two percent or the inflation rate (whichever is lower), beginning in fiscal year 2011-2012

Allows tax levy limits to be exceeded only through three-fourths voter approval for a single fiscal year, with exceptions for voter-approved capital projects and legal settlements or tort actions

Establishes a moratorium on new unfunded state mandates costing more than $10,000 per local government or $1 million statewide, with exemptions for court orders, federal mandates, and public health emergencies

Repeals existing unfunded mandates costing more than $10,000 per local government or $1 million statewide within two years of the act's effective date

Allows counties to opt out of providing optional Medicaid benefits to new enrollees, subject to federal waiver approval