Lawmakers in New Jersey are considering changes to the state’s school funding formula in an effort to address fluctuating state aid and help districts meet their fair share of funding. The proposed bill would allow larger property tax increases in certain districts and limit reductions in state aid for others. The legislation also aims to provide more flexibility for districts to raise taxes to cover costs related to health benefits, pensions, and enrollment increases.
While some lawmakers are concerned about potential tax hikes, others see the bill as a necessary step to ensure adequate funding for schools. The bill would also expand special education aid and require the state to review its method for determining a district’s fair share of funding. Additionally, the legislation sets the stage for potential consolidation of school districts in the future.
The bill is still under discussion in the Senate Education Committee, but lawmakers are hopeful that it will provide much-needed stability and support for New Jersey’s schools.
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