This bill mandates that the upcoming Educational Adequacy Report, due by September 1, 2025, includes a comprehensive review of school funding components, developed in consultation with a diverse group of stakeholders such as school administrators, staff, students, parents, and community members. The aim is to identify necessary school resources and student supports that are currently underfunded through the existing State school aid formula.

Additionally, the bill requires the Governor and the Commissioner of Education to engage school finance experts to recommend revisions to the methodologies used for determining key funding parameters, including the base per pupil amount, preschool funding, and various weights and cost coefficients related to special education and transportation aid. These revisions are intended to ensure that funding adequately supports students in meeting the State's core curriculum content standards and reflects actual district expenditures.

Statutes affected:
Introduced: 18A:7F-46