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 amounts of these aids 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 to prevent significant budget cuts that could adversely affect the quality of education for students in these districts. The sponsors of the bill recognize the ongoing inequities in the State school aid system and aim to provide temporary relief while a more permanent solution is sought.