This bill introduces a cap on the reduction of State school aid, limiting any decrease to a maximum of one percent from the previous year's aid amount for each school district. This provision overrides existing laws and regulations that may allow for larger reductions. The bill aims to provide more stability and predictability in funding for school districts, ensuring that they do not face significant cuts in State aid from one year to the next.

Additionally, the bill amends existing legislation regarding the calculation of State school aid for the 2019-2020 through 2024-2025 school years. It specifies that districts with a positive State aid differential will receive aid based on a decreasing percentage of that differential over the specified years, while also detailing exceptions for certain districts based on their tax rates and spending levels. The bill emphasizes the importance of maintaining adequate funding for school districts while also addressing disparities in State aid distribution.

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