Establishes pilot program to study feasibility of regionalization of certain school districts; appropriates $150,000.

This bill establishes a three-year pilot program to study whether consolidating certain school districts into unified K-12 regional districts is feasible. It appropriates $150,000 to fund the program, requiring three school districts (one in each of New Jersey's northern, central, and southern regions) to conduct a year-long planning study on educational and financial impacts. To move to implementation, voters in each participating municipality must approve the regionalization, and the state will provide annual incentive aid to cover cost equalization during a five-year implementation phase. An independent evaluator will assess outcomes like student achievement, finances, and community satisfaction throughout the pilot.