Authorizes forgiveness of portion of certain funds owed to State by school districts.

This bill forgives up to $10 million in outstanding state loans or advances owed by eligible public school districts. It applies to districts that borrowed funds since 2018 to supplement general budgets, including loans under P.L.2018, c.67, or advances under P.L.2006, c.15. The Commissioner of Education and State Treasurer will forgive the debt for qualifying districts, including those with approved applications before the bill's enactment. It directly affects school districts facing budget shortfalls due to state aid reductions, providing immediate financial relief without requiring new spending. The forgiveness covers the principal amount but not interest or fees associated with the borrowed funds.