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 additional funding from the Property Tax Relief Fund to districts that have experienced reductions in State school aid in both the 2023-2024 and 2024-2025 school years and are spending below the adequacy threshold as defined by current law. The bill stipulates that eligible districts will receive aid only if their calculated amounts for these specific aids are less than those determined under the School Funding Reform Act of 2008.

The legislation is a response to the inequities created by the State's school funding formula, particularly following the implementation of P.L.2018, c.67, which aimed to realign State aid based on current needs. The sponsors of the bill emphasize the urgency of providing temporary assistance to prevent significant budget cuts that could adversely affect educational quality for students in these districts. The bill is designed to ensure that eligible districts can maintain funding levels that meet constitutional requirements for a thorough and efficient education, while also acknowledging the need for a more permanent solution to the underlying issues in the State's school aid system.