Bill Text: NJ S2970 | 2010-2011 | Regular Session | Introduced
Bill Title: Provides State school aid to districts in amount consistent with provisions of "School Funding Reform Act of 2008."
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced - Dead) 2011-06-29 - Substituted by A4203 [S2970 Detail]
Download: New_Jersey-2010-S2970-Introduced.html
Sponsored by:
Senator STEPHEN M. SWEENEY
District 3 (Salem, Cumberland and Gloucester)
SYNOPSIS
Provides State school aid to districts in amount consistent with provisions of "School Funding Reform Act of 2008."
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, 2012 and regulating the disbursement thereof," approved, , 2011 (P.L.2011, 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.2011, c. , the annual appropriations act for fiscal year 2012, there are appropriated out of the Property Tax Relief Fund the following sums for the purposes specified:
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34 DEPARTMENT OF EDUCATION 30 Educational, Cultural, and Intellectual Development 34 Direct Educational Services and Assistance STATE AID |
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01-5120 General Formula Aid ....................................................... (From Property Tax Relief Fund..............................$386,726,000) |
$386,726,000 |
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07-5120 Special Education (From Property Tax Relief Fund...................................$71,300,000) |
$71,300,000 |
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Less: Growth Savings - Payment Changes |
($45,803,000) |
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Total State Aid Appropriation, |
$412,223,000 |
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Direct Educational Services and Assistance .................... (From Property Tax Relief Fund...............$412,223,000) |
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State Aid: |
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01 Equalization Aid (PTRF) ......................... |
($181,370,000) |
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01 Security Aid (PTRF) ................................ |
(68,446,000) |
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01 Adjustment Aid (PTRF)............................. |
(136,912,000) |
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07 Special Education Categorical Aid (PTRF) |
(71,300,000) |
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Less: Growth Savings - Payment Changes |
($45,803,000) |
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From the amounts hereinabove appropriated for equalization aid, security categorical aid, adjustment aid, and special education categorical aid, the Department of Education shall provide each school district, other than an SDA district, an amount of aid that, when summed with the amount of aid the district received pursuant to P.L.2011 , c. (the annual appropriations act for fiscal year 2012), equals the amount of aid the district would receive pursuant to the provisions of P.L.2007, c.260 (C.18A:7F-43 et. al.). The department shall include any adjustment aid provided to the school district when determining if the district is spending above adequacy.
2. This act shall take effect immediately, but shall remain inoperative until the enactment into law of P.L.2011, c. (pending before the Legislature as Senate Bill No. 2969 or Assembly Bill No. 4202 of 2011).
STATEMENT
This bill provides additional State school aid in fiscal year 2012 to school districts, other than SDA (or former Abbott) districts. Under the bill, the districts will receive additional aid in an amount sufficient to provide districts with State funding, which, when combined with the aid received under the fiscal year 2012 appropriations act, equals the amount of aid that the districts would have received had aid been determined pursuant to the "School Funding Reform Act of 2008" for equalization aid, adjustment aid, security categorical aid and special education categorical aid.
The bill will remain inoperative until the enactment of Senate Bill No. 2969 or Assembly Bill No. 4202 of 2011, which increases the marginal gross income tax rate on tax filers with more than $1 million in taxable income from 8.97% to 10.75% for taxable years 2011 and 2012, and expands the gross income tax exclusion for pensions, annuities and other retirement income for certain taxpayers beginning in 2011.
