Bill > A6205

This bill establishes the School Finance Reform Commission, a 13-member body designed to study and improve school budgeting and financing in the state. The commission will include the Commissioner of Education and the President of the State Board of Education (or their designees), along with 11 public members appointed by various legislative leaders and the Governor, ensuring a balanced representation. The commission's primary focus will be examining two key areas of school finance: property tax levies and their growth limitations, and the calculation of local share used in determining equalization aid for school districts. Members will serve without compensation but can be reimbursed for necessary expenses, and the Department of Education will provide administrative support. Within one year of organizing, the commission must submit a comprehensive report to the Governor and Legislature detailing their findings and recommendations for improving school financial systems. The bill will take effect immediately and will expire 30 days after the commission issues its final report, ensuring a time-limited but focused approach to addressing school finance challenges.

Education

https://www.njleg.state.nj.us/bill-search/2024/A6205