- Associated Press - Tuesday, December 1, 2015

ALBANY, N.Y. (AP) - New York’s school business officials are looking for a $2.4 billion increase in school aid in next year’s state budget.

The state Association of School Business Officials said in a report Monday that districts may not see increases in local revenues next year because the property tax cap will be around zero. The cap is tied to inflation.

The proposal includes $434 million to complete the phase-out of the Gap Elimination Adjustment. The GEA has allowed the state to take back some school aid each year since 2010 to help balance its budget.

Gov. Andrew Cuomo is scheduled to release his budget proposal in January.

The state Board of Regents also has recommended an additional $2.4 billion for schools.

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