Bill > A5856

This bill requires the Department of Education to provide additional State school aid to school districts that experienced reductions in their funding exceeding 3% during any school year from 2020-2021 through 2024-2025. The additional aid would be calculated based on the total amount of reductions in various categories of State school aid, including equalization aid, transportation aid, special education categorical aid, security categorical aid, and adjustment aid. The bill defines "State school aid" as the sum of these specific aid categories, and the funding for these additional payments will be appropriated from the Property Tax Relief Fund. This legislation aims to help school districts recover from potential financial losses during and after the COVID-19 pandemic by ensuring they receive compensation for significant funding reductions. The bill would take effect immediately upon enactment, providing a mechanism for school districts to recoup lost funding over a five-year period.

Education

https://www.njleg.state.nj.us/bill-search/2024/A5856