This bill aims to provide supplemental appropriations to certain school districts in New Jersey to ensure they receive adequate funding for special education categorical aid, security categorical aid, and transportation aid for the 2024-2025 school year. Specifically, it allows for appropriations from the Property Tax Relief Fund to ensure that the aid amounts are equal to those calculated under the School Funding Reform Act of 2008. To qualify for this additional aid, a school district must have experienced a reduction in State school aid in both the 2023-2024 and 2024-2025 school years and must be spending below the adequacy threshold as defined by current law.

The bill emphasizes that the additional aid will be provided only if the calculated amounts for the 2024-2025 school year under the current law are less than those calculated under the School Funding Reform Act. This measure is intended as a temporary solution to help districts avoid severe budget cuts due to reductions in State aid, while a more permanent resolution to the inequities in the State school aid system is sought. The sponsors believe that this bill is necessary to protect students' educational quality and uphold their constitutional rights to a thorough and efficient education.