Bill Text: NJ A4030 | 2022-2023 | Regular Session | Introduced
Bill Title: Makes supplemental appropriation of $80 million from Property Tax Relief Fund to DOE for Stabilization Aid.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2022-05-16 - Introduced, Referred to Assembly Education Committee [A4030 Detail]
Download: New_Jersey-2022-A4030-Introduced.html
Sponsored by:
Assemblyman RONALD S. DANCER
District 12 (Burlington, Middlesex, Monmouth and Ocean)
SYNOPSIS
Makes supplemental appropriation of $80 million from Property Tax Relief Fund to DOE for Stabilization Aid.
CURRENT VERSION OF TEXT
As introduced.
A Supplement to the annual appropriations act for the fiscal year ending June 30, 2023, P.L.2022, 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.2022, c. , the annual appropriations act for the fiscal year ending June 30, 2023, there is appropriated from the Property Tax Relief Fund the following amount for the purpose specified:
34 DEPARTMENT OF EDUCATION
30 Educational, Cultural, and Intellectual Development
31 Direct Educational Services
STATE AID
03-5120 Miscellaneous Grants-In-Aid ............................ $80,000,000
Total State Aid appropriation,
Direct Educational Services and Assistance $80,000,000
State Aid:
03 Stabilization Aid (PTRF).................... ($80,000,000)
2. This act shall take effect immediately.
STATEMENT
This bill provides a supplemental appropriation of $80 million for Stabilization Aid, increasing the total funding for that category of aid to $100 million in FY 2023.
The Governor's proposed budget for FY 2023 recommends $20 million for Stabilization Aid, which represents a 60 percent [CA1] decrease from the $50 million [CA2] appropriated for the same purpose in FY 2022. However, because a portion of the amount appropriated for Stabilization Aid was used for Military Impact Aid pursuant to P.L.2021, c.283, the adjusted appropriation for FY 2022 is $39.3 million, and the $20 million in the FY 2023 proposed budget represents a 49 percent decrease from the actual amount of Stabilization Aid in the previous fiscal year.
In FY 2022, 16 school districts received Stabilization in amounts ranging from $93,000 to $7.6 million. Stabilization Aid provides supplemental support to school districts experiencing a reduction in State aid or other budgetary imbalance. Districts are required to submit a written plan detailing how the district intends to fund operations in subsequent years without such supplemental State aid.
