This bill modifies the calculation of preschool education aid for certain school districts in New Jersey that are first receiving such aid in the 2025-2026, 2026-2027, and 2027-2028 school years. It establishes a new cost-sharing methodology for these districts, allowing them to receive a higher amount of preschool education aid based on total program enrollment and costs, rather than being subject to the existing cost-sharing requirements. The bill specifies that the aid will cover a portion of the districts' total preschool education program costs, calculated as the greater of the district aid percentage or 40 percent of eligible preschool costs. Additionally, it allows these districts to raise their local tax levies without separate voter approval to cover the difference between total preschool costs and the aid received.

The bill also includes provisions for adjustments in the calculation of tax levies related to increases in enrollment and health care costs, as well as adjustments for pension contributions. Notably, it allows school districts first receiving preschool education aid in the 2027-2028 school year to recertify the amount to be raised in their budget if it is lower than initially certified, provided the reduction corresponds to the local share of preschool education costs. Overall, the bill aims to enhance funding for preschool education in specific districts while providing flexibility in budgetary adjustments.

Statutes affected:
Introduced: 18A:7F-38, 18A:7F-54