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Except by later voter approval, if an increase in revenue exceeds | | any estimate prepared under paragraph C for the same fiscal year, | | the tax increase is thereafter reduced in proportion to the amount | | of the excess, and the excess revenue that was collected must be | | refunded in the next fiscal year.__Ballot questions for revenue | | increases must begin:__"Shall (specify district) revenues be | | increased (amount of first or, if phased in, full fiscal year | | dollar increase) annually...?" |
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| | | 6.__Costs.__The State shall reimburse municipalities for the | | following costs: |
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| | | A.__The costs of any election under this section and | | providing the notice required under subsection 5 if the | | election provides for a state tax increase; and |
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| | | B.__The cost of one local district election per year under | | this section if that election occurs during a regular | | election. |
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| | | §1994.__Expenditure limitations |
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| | | 1.__State expenditure limitation.__Beginning with the first | | fiscal year that begins after this section takes effect, the | | maximum annual percentage change in state fiscal year spending in | | the categories specified in this subsection equals the inflation | | adjustment factor plus the population adjustment factor and any | | increases attributable to measures approved under section 1993.__ | | This limitation must be calculated separately for the following | | categories: |
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| | | C.__Quasi-governmental agencies and Other Special Revenue | | funds, for which separate individual limitations must be | | applied.__For quasi-governmental agencies whose primary | | purpose is providing educational programs, the limitation | | must be calculated by substituting for the population | | adjustment factor a factor based on changes in student | | enrollment. |
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| | | 2.__Local expenditure limitation.__Beginning with the first | | fiscal year that begins after the effective date of this section, | | the maximum annual percentage change in fiscal year spending for | | a local district that is a school administrative unit equals the | | inflation adjustment factor plus the change in its student | | enrollment and any increases attributable to measures approved |
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