Bill
Bill > S3070
NJ S3070
NJ S3070Provides additional State school aid to certain school districts; makes an appropriation.
summary
Introduced
04/08/2024
04/08/2024
In Committee
04/08/2024
04/08/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill provides that certain school districts that are subject to a reduction in State school aid under P.L.2018, c.67 (commonly referred to as "S2") for the 2024-2025 school year will receive Supplemental Stabilization Aid. A district would receive Supplemental Stabilization Aid if the district's reduction in State school aid for the 2024-2025 school year under S2 is greater than one percent of the district's total operating budget in the 2023-2024 school year. The aid provided under the bill would ensure that no district receives a reduction in aid from the 2023-2024 school year that is greater than one percent of the district's total operating budget in the 2023-2024 school year. To receive the aid provided under the bill, a school district is required to submit to the Commissioner of Education, in a manner and form to be prescribed by the commissioner, a written plan explaining how the district intends to fund operations in future school years in which the district does not receive Supplemental Stabilization Aid or similar supplemental State school aid. A county vocational school district that receives vocational expansion stabilization aid in the 2024-2025 school year is not eligible to receive Supplemental Stabilization Aid under the bill. The bill appropriates such amounts as are required from the Property Tax Relief Fund to the Department of Education.
AI Summary
This bill provides additional state school aid, called Supplemental Stabilization Aid, to certain school districts that would otherwise face a significant reduction in funding for the 2024-2025 school year under a previous law known as "S2" (P.L.2018, c.67). Specifically, a district will receive this extra aid if its proposed reduction in state school aid for the upcoming year is more than one percent of its total operating budget from the previous year (2023-2024). The amount of Supplemental Stabilization Aid will be the difference between the proposed reduction and that one percent threshold, ensuring no district experiences a cut exceeding one percent of its operating budget. To qualify for this aid, school districts must submit a plan to the Commissioner of Education detailing how they will manage their finances in future years without this supplemental funding. However, county vocational school districts already receiving vocational expansion stabilization aid are not eligible for this Supplemental Stabilization Aid. The bill appropriates necessary funds from the Property Tax Relief Fund to the Department of Education to implement these provisions, with the aid to be distributed in the 2024-2025 school year.
Committee Categories
Education
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Education Committee (on 04/08/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S3070 |
| BillText | https://pub.njleg.gov/Bills/2026/S3500/3070_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S3500/3070_I1.HTM |
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