New Jersey A5221 amends school funding law, modifying timelines for State aid notices, defining district income, calculating local share and special.

New Jersey A5221 makes various changes to school funding law. It modifies timelines for the provision of State aid notices, requiring the commissioner to notify districts of the maximum amount of aid payable within two days of the Governor's budget message. The bill redefines district income to use aggregate income multiplied by the ratio of median household income to average income. It amends the calculation of local share and special education costs, ensuring that equalization aid equals the Statewide available equalization aid for all districts.

New Jersey A5221 amends school funding law, modifying timelines for State aid notices, defining district income, calculating local share and special.

New Jersey A5221 makes various changes to school funding law. It modifies timelines for the provision of State aid notices, requiring the commissioner to notify districts of the maximum amount of aid payable within two days of the Governor's budget message. The bill redefines district income to use aggregate income multiplied by the ratio of median household income to average income. It amends the calculation of local share and special education costs, ensuring that equalization aid equals the Statewide available equalization aid for all districts.