A2877

Establishes School Funding Commission to study school funding formula and prepare report for new formula.

The bill establishes the School Funding Commission to study various aspects of school funding in New Jersey. The commission will be composed of 26 members, including the Commissioner of Education, and will study the effects of the current funding formula, compare New Jersey's formula with those of surrounding states, assess municipalities' ability to raise taxes for schools, and evaluate the impact of state policies and tax incentives. The commission will issue a final report with its findings and recommendations, which will serve as the basis for a new school funding formula.