TRENTON – Governor Phil Murphy today signed two bills offering flexibility and relief to school districts across New Jersey as they work to finalize their 2024-2025 school budgets. The first bill (A4161) aims to increase funding for school districts experiencing reductions in aid under S2, easing the impact of the final year of its seven-year phase-in as school districts adjust to funding levels calculated under the School Funding Reform Act.
By signing the legislation, the Governor establishes a Stabilized School Budget Aid Grant Program in the Department of Education to provide grants equal to 45 percent of a school district’s State school aid reduction for the 2024-2025 school year. The bill appropriates $44.
7 million to support the program. In addition to […].
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