Establishes State aid reduction cap for calculation of State school aid.

This bill establishes a cap on annual reductions to New Jersey's state school aid for school districts. It sets a 15% maximum reduction cap for districts using the 2018 aid formula and a 5% cap for those using the 2007 formula, applying to school years 2019-2025. Districts in municipalities with tax rates above the state average that are underfunded (spending below adequacy) are exempt from reductions. The bill also includes specific exemptions for certain districts participating in regional school programs. This directly affects all public school districts receiving state aid under New Jersey's current funding formulas.