Makes various changes to school funding and budgeting laws; eliminates use of census-based funding for special education aid; establishes reimbursement program for school district fuel costs.

This bill makes significant changes to New Jersey's school funding system. It eliminates the use of census-based funding for special education aid, replacing it with a system that calculates aid based on the actual number of special education students in each district. The bill also establishes a reimbursement program for school districts to cover actual fuel costs for student transportation services. Additionally, it creates a 2% cap on annual reductions to State school aid and provides a Stabilization Aid program for districts facing budget imbalances.