Permits board of education to accept donations for purpose of providing property tax relief.

This bill allows New Jersey school districts to create a "school property tax relief trust fund" through board resolution. School boards may accept donations (including bequests, legacies, and gifts) to deposit into this fund, which must be used exclusively to reduce local property taxes paid by residents in the district. The fund requires a non-board member trustee to manage assets, notify tax collectors of annual funding amounts, and directly offset property tax levies. It affects all school districts in New Jersey and their property taxpayers by providing a new mechanism to lower local tax burdens using private donations, without impacting state aid eligibility.