This bill mandates that the Commissioner of Education allow certain school districts facing a reduction in State school aid to submit their budgets after the enactment of the appropriations act for the fiscal year ending June 30, 2025. Specifically, this provision applies to districts that are projected to experience a State aid reduction greater than their unused tax authority, which is defined as the difference between the maximum allowable tax levy and the actual amount raised in the current budget year. The Commissioner is also granted the authority to adjust the school budget calendar to accommodate this new submission timeline, potentially implementing a compressed schedule for budget enactment.

The bill is designed to provide financial relief to school districts that are significantly impacted by State aid reductions, allowing them additional time to prepare their budgets in light of these changes. By permitting budget submissions after the appropriations act is enacted, the bill aims to ensure that districts can better align their financial planning with the actual funding they will receive, thereby promoting fiscal stability and operational continuity for the affected schools.