This bill introduces a cap on the reduction of State school aid, limiting any decrease in funding to a maximum of one percent compared to 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 decreasing percentage of the State aid differential over the next several school years, with the percentage increasing each year until it reaches 100 percent in the 2024-2025 school year. The bill also outlines specific conditions under which certain districts may be exempt from reductions in State aid, particularly those that are regional or have specific financial circumstances.

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