This bill introduces a cap on the reduction of State school aid, limiting any decrease in funding to a maximum of one percent from the previous year's aid amount. This provision applies notwithstanding existing laws and regulations, ensuring that no school district will experience a reduction in State school aid exceeding this cap during any school year.

Additionally, the bill amends existing legislation to clarify the calculation of State school aid for districts with positive State aid differentials. It specifies that these districts will receive aid based on a percentage reduction schedule over the next several school years, while also outlining exceptions for certain districts based on their tax rates and spending levels. The bill aims to provide more predictable funding for school districts and mitigate the impact of funding cuts.

Statutes affected:
Introduced: 18A:7F-68