This bill mandates the appointment of a State monitor for school districts that derive 70 percent or more of their total revenue from State aid. The Commissioner of Education is responsible for appointing the monitor and any necessary additional staff to oversee the district's business operations and personnel matters. However, the bill specifies that a monitor cannot be appointed in districts where a State monitor has already been assigned under existing law. The appointed monitor will possess powers and duties similar to those outlined in the School District Fiscal Accountability Act, with certain exceptions.

The bill aims to enhance oversight in districts heavily reliant on State funding, ensuring that their operations are managed effectively. It references the most recent data from the Department of Education's Taxpayers Guide to Education Spending to determine eligibility for monitor appointment. The provisions of the existing law regarding State monitors will apply to those appointed under this new requirement, reinforcing the accountability framework for school districts in New Jersey. The act is set to take effect immediately upon passage.