Provides tax levy cap adjustment for certain school districts experiencing reductions in State school aid.

This bill allows New Jersey school districts experiencing reductions in state school aid to temporarily increase their property tax levies beyond the usual 2% cap. It specifically provides adjustments equal to the amount of state aid lost in the 2023-2024 or 2024-2025 school years, or to reach adequate funding levels after 2024-2025. The bill prohibits districts using these adjustments from reducing teacher staffing or cutting appropriations for instruction and support services, though the Commissioner of Education may approve such reductions in specific circumstances. This policy change helps districts maintain budget stability when state funding decreases without requiring voter approval for tax increases beyond standard limits.