Establishes an inflationary limit on State school aid growth and allows certain districts to apply for additional aid.

The bill sets an inflationary limit on the growth of State school aid for school districts, based on the increase in the consumer price index for the New York City and Philadelphia areas. District factor group A school districts have a slightly higher limit. Qualifying school districts, which experience a smaller increase in State school aid due to the new limit, can apply for Necessary Stabilization Aid. This aid is the difference between the amount of aid the district would have received under current law and the amount calculated with the new limit.

Establishes an inflationary limit on State school aid growth and allows certain districts to apply for additional aid.

The bill sets an inflationary limit on the growth of State school aid for school districts, based on the increase in the consumer price index for the New York City and Philadelphia areas. District factor group A school districts have a slightly higher limit. Qualifying school districts, which experience a smaller increase in State school aid due to the new limit, can apply for Necessary Stabilization Aid. This aid is the difference between the amount of aid the district would have received under current law and the amount calculated with the new limit.