Limits and clarifies use of cap banking by school districts.

This bill limits how New Jersey school districts can use "cap banking" to raise property taxes beyond normal limits. It clarifies that districts may carry forward unused tax authority (called "cap banking") but restricts annual increases to no more than 6% compared to the previous year's levy. Districts that use cap banking must rebuild their "cap bank" in the following two years, preventing repeated large tax hikes. The bill directly affects school districts seeking to exceed standard tax levy caps, ensuring property tax increases remain moderate and predictable for residents.