Relates to the amount of the allowable levy growth factor and the percentage of votes needed to override the tax levy limit

This bill modifies tax levy rules for local governments and school districts. It establishes a minimum annual tax levy growth rate of 2% (or the inflation rate, whichever is higher) and reduces the voter approval threshold for overriding the tax levy cap from 60% to a simple majority (over 50%). These changes apply to all local governments and school districts seeking to exceed the statutory tax levy limit. The bill amends sections of the General Municipal Law and Education Law to implement these provisions.