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 bill stipulates that 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 by existing law.

To facilitate this additional funding, the bill authorizes an appropriation from the Property Tax Relief Fund to the Department of Education for the necessary amounts to implement these provisions. The act is designed to take effect immediately upon passage, ensuring that affected school districts can receive the support they need without delay.