NY S04029

Changes the "allowable levy growth factor" for local government and school district tax levies from the lesser to the greater of 2% or the inflation factor, potentially allowing larger tax increases without override

Removes the floor provision that previously ensured the levy growth factor could never be less than one (preventing decreases)

Reduces the vote threshold required for local governments to override the tax levy cap from 60% to more than 50% (simple majority) of the governing body's total voting power

Lowers the voter approval threshold for school district budgets that exceed the tax levy limit from 60% to more than 50% of votes cast

Applies the same reduced simple majority threshold to separate expenditure propositions that would cause a school district to exceed its tax levy limit