During the month of January following any municipal election, the commissioners of any county of the third class may amend the budget and the levy and tax rate to conform with its amended budget. A period of ten days' public inspection at the office of the chief clerk of the proposed amended budget, after notice by the chief clerk to that effect is published once in a newspaper of general circulation as defined by the act of May 16, 1929 (P.L. 1784),¹ known as the “Newspaper Advertising Act,” printed within the institution district, and, if not, then in a newspaper circulating generally in such institution district, shall intervene between the proposed amended budget and the adoption thereof. Any amended budget must be adopted by the commissioners of any county of the third class on or before the fifteenth day of February.

No such proposed amended budget shall be revised upward in excess of ten per centum in the aggregate or as to an individual item in excess of twenty-five per centum of the amount of such individual item in the proposed amended budget.

Within fifteen days after the adoption of an amended budget the chief clerk shall file a copy thereof in the office of the Department of Community Affairs.²