Establishes a formula for the distribution of State aid to school districts.

This bill (A1178) establishes a new formula for distributing New Jersey's state school aid to public school districts. It directly affects all 600+ public school districts by determining their funding based on projected income tax revenue and student enrollment. The formula calculates per-pupil state aid by dividing the total projected state income tax revenue by the statewide student enrollment, then multiplying that amount by each district's projected enrollment. This replaces previous funding methods and aims to fulfill constitutional requirements for equitable school funding. The bill takes effect immediately upon enactment.