Establishes a formula for the distribution of State aid to school districts.

This bill establishes a new formula for distributing state school aid to New Jersey's public school districts. It calculates each district's aid by dividing the total projected state income tax revenue by the total projected student enrollment across all districts, then multiplying that per-pupil amount by the district's own projected enrollment. This method ensures state funding is distributed proportionally based on student population, directly affecting all public school districts in the state. The bill replaces previous funding mechanisms and takes effect immediately for the upcoming school year.