"Fully Funding Schools and Cutting Property Taxes Act"; repeals certain sections of law; requires additional aid to lower property taxes commensurate with residents' ability to support schools; appropriates $2.9 billion.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill, the "Fully Funding Schools and Cutting Property Taxes Act," aims to increase state funding for schools and reduce property taxes in New Jersey. It repeals certain provisions of law enacted in 2018 that led to school funding cuts and requires additional state aid to ensure districts receive at least the amount they received in previous years. The bill also mandates that school districts reduce their tax levies by an amount equal to any increase in state school aid, allowing them to increase levies later if they meet specific criteria. It appropriates $2.9 billion to fund these changes.
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