Bill Text: NJ A3420 | 2016-2017 | Regular Session | Introduced
Bill Title: Makes supplemental appropriation of $122,200,000 from Property Tax Relief Fund to DOE to provide additional State school aid to school districts with equalized school tax rate greater than specified threshold.
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: (Introduced - Dead) 2016-03-07 - Introduced, Referred to Assembly Education Committee [A3420 Detail]
Download: New_Jersey-2016-A3420-Introduced.html
Sponsored by:
Assemblywoman MILA M. JASEY
District 27 (Essex and Morris)
Assemblyman JOHN F. MCKEON
District 27 (Essex and Morris)
SYNOPSIS
Makes supplemental appropriation of $122,200,000 from Property Tax Relief Fund to DOE to provide additional State school aid to school districts with equalized school tax rate greater than specified threshold.
CURRENT VERSION OF TEXT
As introduced.
A Supplement to "An Act making appropriations for the support of the State Government and the several public purposes for the fiscal year ending June 30, 2017 and regulating the disbursement thereof," approved June , 2016 (P.L.2016, c. ).
Be It Enacted by the Senate and the General Assembly of the State of New Jersey:
1. In addition to the amounts appropriated under P.L.2016, c. , there is appropriated out of the Property Tax Relief Fund the following sum for the purpose specified:
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34 DEPARTMENT OF EDUCATION 30 Educational, Cultural, and Intellectual Development 31 Direct Educational Services and Assistance STATE AID |
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01-5120 General Formula Aid... ...................................................... |
$122,200,000 |
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(From Property Tax Relief Fund.........$122,200,000) Total State Aid Appropriation, |
$122,200,000 |
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Direct Educational Services and Assistance .................. (From Property Tax Relief Fund.........$122,200,000) |
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State Aid: |
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01 Tax Rate Stabilization Aid (PTRF)............ |
($122,200,000) |
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From the amount hereinabove appropriated for Tax Rate Stabilization Aid, the Commissioner of Education shall provide State aid to a school district, other than a county vocational school district, in which the equalized school tax rate in the 2015-2016 school year is at least 35 percent greater than the Statewide equalized school tax rate in the 2015-2016 school year. The amount of aid allotted to a school district shall equal the lesser of: 1) the amount by which the school district's general fund tax levy in the 2015-2016 school year exceeded the school district's local share in the 2015-2016 school year, as calculated pursuant to section 10 of P.L.2007, c.260 (C.18A:7F-52), or 2) the amount by which the school district's total State school aid for the 2016-2017 school year, as calculated pursuant to the provisions of P.L.2007, c.260 (C.18A:7F-43 et al.), exceeds the sum of the school district's allotment of equalization aid, educational adequacy aid, special education categorical aid, security categorical aid, transportation aid, school choice aid, adjustment aid, additional adjustment aid, PARCC readiness aid, per pupil growth aid, supplemental enrollment growth aid, under adequacy aid, professional learning community aid, and host district support aid for the 2016-2017 school year.
2. This act shall take effect July 1, 2016, or upon the enactment of P.L.2016, c. , the annual appropriations act for fiscal year 2016-2017, whichever occurs later.
STATEMENT
This bill makes a supplemental appropriation of $122.2 million in fiscal year 2016-2017 from the Property Tax Relief Fund to the Department of Education to provide additional State school aid to certain school districts. Specifically, the bill provides additional aid to a school district if its equalized school tax rate in the 2015-2016 school year exceeded the Statewide average equalized school tax rate by at least 35 percent. A district's allotment of aid under the bill would equal the lesser of: 1) the amount by which the general fund tax levy in the 2015-2016 school year exceeded its local share for that year, as calculated pursuant to the school funding law; or 2) the amount by which the school district's total allotment of State school aid for the 2016-2017 school year, as calculated pursuant to the school funding law, exceeds the district's allotment of other State aid categories for the 2016-2017 school year.
