New Jersey will be modifying its school funding formula for the first time in ten years.
Governor Phil Murphy has signed a law that adjusts state aid to public schools over seven years by reducing assistance to districts with declining student enrollment and providing more money to those with booming populations and large numbers of high-need students.
“We are making an historic reinvestment in our public schools and in our future. By fiscal year 2025 every district will receive the appropriate level of aid under the school funding formula.”
Senate President Steve Sweeney says the law means continued increases in school aid will be used effectively.
“This is just a big win for all the kids in the state. And I want to thank my colleagues in the legislature because this was no easy task. In fact, this was probably one of the toughest ones that we’ve ever done.”
New Jersey Education Commissioner Lamont Repollet says the new law lays the groundwork for fixes to inequalities in school aid.
“By eliminating state aid growth limits and equalizing funding for districts that have been underfunded for years, we are creating and charting a new path for our schools and setting the stage for our students and their continued and future academic success.”
School districts that were overfunded are trying to cope with getting less state assistance.
Jersey City will lose the most, and the Governor signed a separate bill that authorizes a one percent payroll tax there to make up for the reduction.