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  • NJ A3420
  • Makes supplemental appropriation of $122,200,000 from Property Tax Relief Fund to DOE to provide additional State school aid to school districts with equalized school tax rate greater than specified threshold.
Introduced
(3/7/2016)
In Committee
(3/7/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill makes a supplemental appropriation of $122.2 million in fiscal year 2016-2017 from the Property Tax Relief Fund to the Department of Education to provide additional State school aid to certain school districts. Specifically, the bill provides additional aid to a school district if its equalized school tax rate in the 2015-2016 school year exceeded the Statewide average equalized school tax rate by at least 35 percent. A district's allotment of aid under the bill would equal the lesser of: 1) the amount by which the general fund tax levy in the 2015-2016 school year exceeded its local share for that year, as calculated pursuant to the school funding law; or 2) the amount by which the school district's total allotment of State school aid for the 2016-2017 school year, as calculated pursuant to the school funding law, exceeds the district's allotment of other State aid categories for the 2016-2017 school year.
Education
Introduced, Referred to Assembly Education Committee  (on 3/7/2016)
 
 
Date Chamber Action Description
3/7/2016 A Introduced, Referred to Assembly Education Committee
Date Motion Yea Nay Other
None specified