Bill > S4959

This bill establishes the School Finance Reform Commission, a temporary 13-member advisory body within the New Jersey Department of of Education designed to study and improve school funding mechanisms. 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 legislative leadership and the Governor, ensuring balanced political representation. The commission's primary task is to comprehensively examine two critical aspects of school finance: school district property tax levies and their growth limitations, and the calculation of local funding 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 its organization, the commission must submit a detailed report to the Governor and Legislature outlining its findings and recommendations for improving school budgeting, finance, and funding, with the report to be prominently displayed on the Department of Education's website. The commission will automatically dissolve 30 days after submitting its final report, making it a focused, time-limited initiative to address complex school funding challenges.

Education

https://www.njleg.state.nj.us/bill-search/2024/S4959