This bill establishes a pilot program directed by the Commissioner of Education to study the feasibility of creating a grade K-12 all-purpose regional school district through the consolidation of existing grade 9-12 limited purpose regional school districts and the grade K-8 school districts of their constituent municipalities. The program will consist of a one-year Phase I planning stage, a five-year Phase II implementation stage, and an Evaluation Component. The commissioner will select three pilot sites from different regions of New Jersey, and participating school districts must jointly submit an application to the commissioner, including a resolution approving their participation.

During the Phase I planning stage, selected districts will conduct a feasibility study to assess the educational and financial impacts of forming a regional school district, with the option to apply for a planning grant of up to $50,000. Voter approval from each constituent municipality is required for participation in Phase II, during which the commissioner will provide incentive State aid to support the costs associated with regionalization. An independent evaluator will be appointed to assess the pilot sites, focusing on various factors such as student achievement and school district finances, with reports submitted annually and a final report at the program's conclusion. The bill appropriates $150,000 from the General Fund to finance the grants awarded to the pilot sites.