Establishes a formula for the distribution of State aid to school districts.

This bill establishes a new formula for distributing State aid to public school districts in New Jersey, directly affecting how funding is allocated to these districts. The key mechanism calculates a per-pupil aid amount by dividing the total projected State income tax revenue by the total statewide student enrollment, then multiplies that figure by each district's projected enrollment to determine its specific funding. This approach replaces previous allocation methods with a system based on projected enrollment and total income tax revenue, ensuring aid distribution is tied to these specific financial and demographic metrics.