Bill > S3076

This bill amends the FY 2024 appropriations act to provide $210,135,047 in supplemental funding for school districts, primarily from the General Fund and the Property Tax Relief Fund, to restore State school aid reductions. * **Department of Education:** $210,135,047 is appropriated for Miscellaneous Grants-in-Aid, specifically for Supplemental Stabilization Aid. Of this, $22,500,000 comes from the Property Tax Relief Fund and $187,635,047 comes from the General Fund. This funding is intended to ensure that school districts previously receiving Supplemental Stabilization Aid receive the same amount as allocated under P.L.2023, c.32, and that districts facing a State school aid reduction in the 2024-2025 school year receive an amount equal to the difference between their 2023-2024 aid and their proposed 2024-2025 aid. This aid will not be allocated to county vocational school districts proposed to receive vocational expansion stabilization aid. * **Shifts in Appropriations:** The bill also shifts approximately $64,920,000 from various existing FY 2024 appropriations and prior year unexpended balances to help fund these school aid restorations. This includes reductions in appropriations for: * Department of Community Affairs, Community Resources (Grants-in-Aid and State Aid) * Department of Community Affairs, Local Government Services (State Aid) * Department of State, Support of the Arts (Grants-in-Aid) * Department of the Treasury, Economic Development (Grants-in-Aid)