This bill introduces a cap on the reduction of State school aid, limiting any decrease in funding to a maximum of one percent from the previous year's aid amount. This provision applies notwithstanding existing laws, ensuring that no school district will experience a reduction in State school aid exceeding this cap in any given school year. The bill aims to provide a more stable funding environment for school districts by preventing significant fluctuations in State aid.

Additionally, the bill amends existing legislation regarding the calculation of State school aid for the 2019-2020 through 2024-2025 school years. It specifies that school districts with a positive State aid differential will receive aid based on a decreasing percentage of that differential over the specified years, while also outlining exceptions for certain districts based on their tax rates and spending levels. The bill also includes provisions for regional school districts and those participating in grant programs, ensuring they receive adequate funding while adhering to the new cap on reductions.

Statutes affected:
Introduced: 18A:7F-68