Bill Text: NJ S2321 | 2020-2021 | Regular Session | Introduced

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Bill Title: Makes FY 2021 supplemental appropriation of $200 million from Property Tax Relief Fund to DOE to provide additional Equalization Aid.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-04-09 - Introduced in the Senate, Referred to Senate Education Committee [S2321 Detail]

Download: New_Jersey-2020-S2321-Introduced.html

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SENATE, No. 2321

STATE OF NEW JERSEY

219th LEGISLATURE

 

INTRODUCED APRIL 9, 2020

 

 

Sponsored by:

Senator  VIN GOPAL

District 11 (Monmouth)

 

 

 

 

SYNOPSIS

     Makes FY 2021 supplemental appropriation of $200 million from Property Tax Relief Fund to DOE to provide additional Equalization Aid.

 

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, 2021 and regulating the disbursement thereof, "  approved June   , 2020 (P.L.2020, 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.2020, c.   , the annual appropriations act for the Fiscal Year 2021, there is appropriated out of the Property Tax Relief Fund the following sum for the purpose specified:

 

34 DEPARTMENT OF EDUCATION 30 Educational, Cultural, and Intellectual Development 31 Direct Educational Services and Assistance STATE AID
01-5120 General Formula Aid...........................................................                   (From Property Tax Relief Fund............ $200,000,000)		$200,000,000
Total State Aid Appropriation,		$200,000,000
Direct Educational Services and Assistance.....................         (From Property Tax Relief Fund.......... $200,000,000)
State Aid:
01      Equalization Aid (PTRF)  .......................	($200,000,000)

 

     2.    This act shall take effect July 1, 2020, or upon the enactment of P.L.2020, c.   , the annual appropriations act for fiscal year 2020-2021, whichever occurs later.

 

 

STATEMENT

 

     This bill provides an FY 2021 supplemental appropriation of $200 million to the Department of Education for additional equalization aid. In FY 2020, approximately $6.5 billion was appropriated for equalization aid. This bill will increase by $200 million, the amount of equalization aid that is included in the FY 2021 annual appropriation act.