Bill > A5599

This bill provides a specific exemption from State school aid reductions for regional school districts that meet two key criteria: first, the district must be spending at least 10 percent below the state's adequacy standard (a measure of educational spending determined by the state), and second, each constituent school district within the regional district must be located in a municipality where the equalized total tax rate is at least 10 percent higher than the statewide average equalized total tax rate. In practical terms, this means that regional school districts operating in high-tax areas and spending less than the state's recommended educational funding level will not have their State school aid reduced. The bill amends existing law to add this provision, specifically inserting language in Section 1 that creates this exemption. The exemption is part of a broader set of rules governing State school aid distribution between 2019-2020 and 2024-2025 school years, which gradually reduce aid for districts with a positive State aid differential. By providing this exemption, the bill aims to support regional school districts that are working to manage costs while operating in municipalities with higher tax rates.

Education

https://www.njleg.state.nj.us/bill-search/2024/A5599