Section 7. If there is appropriated in any fiscal year a sum smaller than the amount of state school aid specified in section twelve, any school appropriations based on the commissioner’s estimate shall be reduced without further action by the school committee, town meeting, or city council by an amount equal to the value that state school aid and minimum required local contribution for the district are below the amount estimated by the commissioner unless the district or the member municipalities take specific actions to the contrary. For the purposes of this section the amount of state school aid appropriated to a city or town shall be the amount appropriated by the annual appropriation act without regard to any deductions pursuant to subsection (f) of section twelve B of chapter seventy-six.