Modifies school district property tax cap law; appropriates $67.9 million to provide additional State school aid to school districts experiencing reductions in 2025-2026 school year.

This bill modifies New Jersey's school district property tax cap law to require that the tax levy growth limitation be the greater of the Consumer Price Index increase or 2%. It appropriates $67.9 million to provide additional state school aid to school districts that would experience a reduction in state aid during the 2025-2026 school year compared to the 2024-2025 school year. The funding ensures these districts receive at least the same total state aid amount as the previous year. Approximately 200 school districts are expected to benefit from this targeted support.