Bill
Bill > A149
NJ A149
NJ A149Includes value of certain properties exempt from taxation in valuation used to calculate State school aid in SDA districts.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
Under the "School Funding Reform Act of 2008," P.L.2007, c.260 (C.18A:7F-43 et al.), a school district's State aid is determined, in part, by the district's capacity to raise revenue locally, as measured by the community's equalized property valuation and aggregate income. In the case of property that is exempt from taxation under the "Long Term Tax Exemption Law," P.L.1991, c.431 (C.40A:20-1 et seq.), the value of the property is omitted from the calculation. This may lead a school district that is located in a municipality with exempt property to receive a greater amount of State aid at the expense of other districts. This bill requires that the value of property exempt from taxation under that law be included when determining a community's wealth for the purpose of determining State school aid for an SDA (former Abbott) district.
AI Summary
This bill mandates that for SDA (formerly Abbott) districts, the "EQVAL," which represents a community's equalized property valuation used to calculate State school aid under the "School Funding Reform Act of 2008," must now include the value of properties that are exempt from taxation under the "Long Term Tax Exemption Law." Previously, these exempt properties were excluded from this calculation, potentially leading to some districts receiving more State aid than others due to the presence of tax-exempt properties within their municipalities, and this change aims to create a more equitable distribution of school funding by accounting for the full value of a community's property wealth.
Committee Categories
Education
Sponsors (2)
Last Action
Introduced, Referred to Assembly Education Committee (on 01/13/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/A149 |
| BillText | https://pub.njleg.gov/Bills/2026/A0500/149_I1.HTM |
Loading...