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

This bill (S 1570) limits annual reductions to New Jersey school districts' state aid payments, capping cuts at 1% per school year. It directly affects all school districts receiving state aid by preventing any single-year reduction exceeding 1% compared to the prior year's disbursement. Key provisions establish this 1% cap as a new rule, overriding previous formulas that allowed larger annual cuts. Exceptions apply for certain districts meeting specific criteria (e.g., high-tax areas with spending below adequacy), but the core change is the universal 1% reduction limit for all districts. The bill does not increase aid but restricts how much aid can be reduced annually.