This bill amends the current law regarding the Educational Adequacy Report, which is issued every three years by the Governor in consultation with the Commissioner of Education. The upcoming report, due by September 1, 2025, will now require a comprehensive review of school funding components, incorporating input from a diverse group of stakeholders, including school administrators, staff, students, parents, and community members. This engagement aims to identify necessary school resources and student supports that are inadequately funded through the existing State school aid formula.

Additionally, the bill mandates that the Governor and the Commissioner commission school finance experts to recommend revisions to the methodologies used for determining key funding parameters, such as the base per pupil amount, preschool funding, and various cost coefficients related to special education and transportation aid. These revisions are intended to ensure that the funding provided to school districts is sufficient to support students in meeting the State's core curriculum content standards and to reflect actual district expenditures.

Statutes affected:
Introduced: 18A:7F-46