What are the penalties for the second apron?
All of the penalties for the first apron apply to the second apron as well, which is triggered when a team's salary exceeds $182.5 million. For the 2023-24 season, one additional penalty is added when crossing the second apron:
No access to the $5 million taxpayer midlevel exception
Starting at the end of the 2023-24 season, even more restrictions will be added to the second apron. These include:
Teams cannot use a trade exception generated by aggregating the salaries of multiple players
Teams cannot include cash in a trade
Teams cannot use a trade exception generated in a prior year
First-round picks seven years out are frozen (unable to be traded)
A team's first-round pick is moved to the end of the first round if they remain in the second apron for three out of five seasons
https://www.sportingnews.com/us/nba/news/nba-second-apron-explained-salary-cap-team-spending/efo6htjzzmzrswoncvvlbmhi