"School Property Tax Relief Trust Fund Act"; appropriates $2 billion.

This bill establishes a $2 billion School Property Tax Relief Trust Fund to provide one-time grants to New Jersey school districts. The fund, financed by state and federal pandemic recovery funds, allows districts to use grant money for capital projects, hiring teachers, or covering wage/benefit increases. To receive funds, districts must agree not to raise property taxes for five years after receiving the grant and must follow specific spending rules, including prioritizing districts with cost-saving plans or affordable housing compliance. The grants are one-time only, with districts ineligible for another grant for five years after receiving funds.