This bill mandates that certain school districts in New Jersey receive additional State aid to compensate for reductions in State school aid that exceed three percent during the school years from 2020-2021 to 2024-2025. Specifically, the additional aid will be calculated based on the total reductions in State school aid, which includes equalization aid, transportation aid, special education categorical aid, security categorical aid, and adjustment aid, as defined in existing law.

To facilitate this additional funding, the bill appropriates necessary amounts from the Property Tax Relief Fund to the Department of Education. The act is designed to ensure that school districts facing significant reductions in funding are supported, thereby promoting educational stability during the specified years. The bill is set to take effect immediately upon enactment.