Establishes "School Finance Reform Commission."

S 2879 creates a 13-member "School Finance Reform Commission" to study and recommend improvements to New Jersey's school funding system. The commission, including the Education Commissioner and appointed members from legislative leaders and the Governor, will specifically examine school district property tax levies and how local share calculations affect equalization aid allocations. It must submit a report with findings and recommendations to the Governor and Legislature within one year of forming, and the bill expires 30 days after the report is issued. This bill directly affects school districts and state education funding policies through its mandated study and recommendations.