This bill mandates the Commissioner of Education to submit a comprehensive report to the Legislature regarding the current designation of School Development Authority (SDA) districts within 90 days of the bill's effective date. The report must include various elements such as the criteria used to assess the socioeconomic status of each school district, the current socioeconomic conditions of each SDA district, and a comparison of these conditions to when the districts were initially designated. Additionally, the report should evaluate whether each district should retain its SDA status, discuss the potential for designating additional districts, and provide legislative recommendations for revising current classifications and establishing criteria for future designations.

Currently, there are 31 SDA districts, which were primarily designated based on the New Jersey Supreme Court's decisions and subsequent legislative actions. The bill highlights that since 2004, there have been no updates to the District Factor Groups (DFGs) or assessments of the socioeconomic status of these districts, despite significant changes over the past 40 years. The intent of the bill is to ensure that the most in-need districts continue to receive the benefits associated with SDA classification while also considering the interests of taxpayers who fund the maintenance of these school facilities.