SECTION 1.  Section 2 of chapter 70 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by inserting after the words “prior fiscal year;” in line 477 the following:-

provided, further, in a district classified in the highest concentration of students considered economically disadvantaged as determined by the department under the foundation budget formula, and which did not receive new foundation aid in fiscal years 2013 through 2017, inclusive, and in which actual net school spending exceeded required net school spending in fiscal years 2013 through 2017, inclusive, the district’s municipal revenue growth factor shall not exceed 2.5%;

SECTION 2. Section 2 of chapter 70, as so appearing, is hereby amended by striking out, after the words “prior fiscal year” in line 477, the words “provided, further, in a district classified in the highest concentration of students considered economically disadvantaged as determined by the department under the foundation budget formula, and which did not receive new foundation aid in fiscal years 2013 through 2017, inclusive, and in which actual net school spending exceeded required net school spending in fiscal years 2013 through 2017, inclusive, the district’s municipal revenue growth factor shall not exceed 2.5%;” and inserting in place thereof the following words:-

provided, further, in a district classified in the highest concentration of students considered economically disadvantaged as determined by the department under the foundation budget formula, and which did not receive new foundation aid in the prior fiscal year, and in which actual net school spending exceeded required net school spending in the prior fiscal year, the district’s municipal revenue growth factor shall not exceed the greater of 2.5% or the maximum allowable percentage of taxes assessed in excess of the maximum levy limit prior to any voter approval to assess taxes in excess of that amount under subsection (g) of section 21C of chapter 59;

SECTION 3.  Section 1 of this act shall take effect upon its passage.

SECTION 4. Section 2 of this act shall take effect upon the adoption by the general court of a joint resolution affirming the completion of the implementation schedule fulfilling the recommendations filed on November 2, 2015, by the foundation budget review commission established in section 4 of chapter 70.