Appropriates $54.6 million for additional round of funding through Stabilized School Budget Aid Grant Program to restore State school aid reductions in 2024-2025 school year.

This bill appropriates $54.6 million to restore 55% of state school aid reductions for eligible New Jersey school districts facing funding cuts in the 2024-2025 school year. It directly affects school districts that received state aid reductions after accounting for prior funding under P.L.2024, c.13 (which provided 45% restoration). The bill adds this 55% restoration to the existing Stabilized School Budget Aid Grant Program, ensuring districts receive the full amount of aid they were originally scheduled to lose. The funds will be distributed in the 2024-2025 school year, with $54.6 million drawn from the Property Tax Relief Fund.