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

This bill (A 2834) proposes a 1% annual cap on reductions to state school aid for New Jersey school districts. It directly affects all districts receiving state aid by limiting how much their funding can decrease each school year - no district may face a reduction exceeding 1% compared to the prior year's disbursement. Key provisions include this cap overriding previous laws and establishing detailed schedules for aid adjustments for districts with "positive aid differentials" (those receiving more aid than needed), while exempting certain districts meeting specific tax or spending criteria. The bill aims to stabilize school funding by preventing steep annual cuts, though it does not change overall funding levels.