The bill mandates the Commissioner of Education to implement new procedures for preliminary State school aid notices and school district budgets, while also establishing the New Jersey Education Funding Portal. Starting with the 2026-2027 school year, the commissioner is required to provide each school district with a preliminary State aid notice by the end of the first week in December, detailing the minimum amount of State aid for the upcoming school year. The bill modifies existing provisions related to the calculation of State aid and local shares, ensuring that districts are informed of their adequacy budgets and maximum aid amounts in a timely manner. It also clarifies the budget submission process, requiring districts to adopt and submit their budgets for approval by March 4 or March 20, depending on their election schedule, with the possibility of adjusted submission dates based on preliminary aid numbers.

Additionally, the bill introduces the New Jersey Education Funding Portal to enhance transparency by making available the data inputs and calculations used in determining State school aid. This portal will allow users to adjust certain data inputs and estimate the impact on State aid. It also provides provisions for districts facing a reduction in State aid, allowing them to submit their budgets within five days of the appropriations act's enactment and revise them within the first six months of the budget year. Overall, the bill aims to improve the budgeting process for school districts and enhance public access to funding information.

Statutes affected:
Introduced: 18A:7F-5, 18A:7F-46, 18A:7F-52