Bill
Bill > S3249
NJ S3249
NJ S3249Authorizes establishment of charter school payment reserve account in school districts.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/02/2026
02/02/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill grants school districts the authority to establish a charter school payment reserve account. Under current law, a school district is required to make payments to charter schools for each resident student who enrolls in the charter school. The total payment is initially determined by the Department of Education based on the projected charter school enrollment prior to the beginning of the school. The payments due to charter schools are subsequently adjusted based on charter schools' actual enrollment as of October 15. When developing its budget for the upcoming school year, a school district may receive authorization from the department to budget an amount for charter school payments that is less than the projected total payment determined by the department. Under this bill, a district in this circumstance would be allowed to use funds on deposit in the charter school payment reserve account to make payments to charter schools if the revised payment based on the October 15 enrollment is greater than the amount that the district budgeted. Similar to the tuition reserve currently authorized by State Board of Education regulations, a school district board of education would be allowed to transfer interest earned on investments in the reserve account to the district's general fund.
AI Summary
This bill allows school districts to create a "charter school payment reserve account" to manage payments to charter schools. Currently, school districts must pay charter schools for each student who enrolls from their district, with initial payments based on projected enrollment and later adjusted based on actual enrollment on October 15th. If a district budgets less for these payments than the final adjusted amount, this new reserve account would allow them to use funds from the account to cover the difference. Importantly, any interest earned on money held in this reserve account can be transferred to the district's general fund, similar to how interest from a "tuition reserve" can be used.
Committee Categories
Education
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Education Committee (on 02/02/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S3249 |
| BillText | https://pub.njleg.gov/Bills/2026/S3500/3249_I1.HTM |
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