Vote Smart's Synopsis:

Vote to pass a bill that modifies and extends local levy limits.

Highlights:

-Prohibits districts from raising its levy in 2007 or 2008 by more than the previous year's levy multiplied by 1.026 [Sec. 1(2)]. -Allows a district board to exceed the levy limit with voter approval [Sec. 1(4)]. -Prohibits a political subdivision from increasing its levy in 2007 or 2008 by a percentage that exceeds the political subdivision "valuation factor" (Sec. 7). -Allows a town with a population of less than 2,000 to exceed the levy increase limit if the majority of those voting on the question in a town meeting adopt the resolution (Sec. 21).

Full Bill Text