Permits school districts to receive loans from State to support operating budget under certain circumstances.

This bill creates a state loan program allowing New Jersey school districts with significant budget shortfalls to access funds to avoid cutting nonmandatory programs like advanced courses, sports, music, and kindergarten. Districts must demonstrate they've exhausted options such as program reductions or tax increases before applying, and the Commissioner of Education must approve loans if necessary to maintain a thorough and efficient education. The program includes a dedicated revolving account for loans, requires detailed application documentation about budget impacts and tax history, and permits districts to delay certain budget deadlines while awaiting approval. It directly affects school districts facing fiscal challenges that threaten educational programming.