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

This bill establishes a one percent cap on annual reductions to State school aid for New Jersey school districts. It ensures that no district's State aid amount will be reduced by more than one percent from the previous year's level, regardless of other calculations. The bill affects all school districts receiving State school aid, though certain districts (like some SDA districts or those meeting specific criteria) may have exemptions. This amendment to education funding law limits the maximum annual reduction that can be applied to State school aid calculations. The legislation applies to all school districts under the current State aid calculation system for the 2019-2020 through 2024-2025 school years.