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 in any given school year.

Additionally, the bill amends existing legislation to clarify the calculation of State school aid for districts with positive State aid differentials, specifying that these districts will receive aid based on a decreasing percentage of their State aid differential over the next several school years. The bill also includes provisions for certain districts that may be exempt from reductions based on their tax rates and spending levels, ensuring that those in need of support are not disproportionately affected by the aid reduction cap.

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