This bill aims to provide supplemental appropriations to certain school districts in New Jersey to ensure they receive adequate funding for special education categorical aid, security categorical aid, and transportation aid for the 2024-2025 school year. Specifically, it allows for additional funding from the Property Tax Relief Fund to school districts that have experienced reductions in State school aid in both the 2023-2024 and 2024-2025 school years and are spending below the adequacy threshold as defined by current law. The bill stipulates that eligible districts will receive aid only if their calculated amounts for these aids are less than those determined under the School Funding Reform Act of 2008.

The intent of the bill is to provide temporary financial relief to school districts facing significant budget cuts due to reductions in State aid, thereby preventing detrimental impacts on the quality of education for students. The legislation acknowledges the inadequacies of the existing State school aid system and aligns with previous legislative efforts aimed at restoring funding to districts adversely affected by the reallocation of State aid. By ensuring that eligible districts receive the necessary aid, the bill seeks to uphold the constitutional requirement for a thorough and efficient education for all students.