S2243

A Supplement to "An Act making appropriations for the support of the State Government and the several public purposes for the fiscal year ending June 30, 1998 and regulating the disbursement thereof," approved June 27, 1997 (P.L.1997, c.131).

1. In addition to the amounts appropriated under P.L.1997, c. 131, there is appropriated out of the General Fund the following sum for the purpose specified:

STATE AID 34 DEPARTMENT OF EDUCATION 30 Educational, Cultural and Intellectual Development 31 Direct Educational Services and Assistance 5120 Division of School Finance and Regulatory Services 01 General Formula Aid
01-5120 General Formula Aid .............................................................		$17,317,215
State Aid:
Restoration of Stabilization Aid
Growth Limit Reduction ...........................................	($17,317,215)

2. Notwithstanding the provisions of P.L. 1996, c.138 (C.18A:7F-1 et seq.) to the contrary, the amount hereinabove appropriated shall be distributed to any school district in which the core curriculum standards aid was reduced to less than 50% of the district's aid entitlement calculated pursuant to section 15 of P.L.1996, c.138 (C.18A:7F-15) as a result of the application of the stabilization aid growth limit, to provide that the core curriculum standards aid shall equal at least 50% of the district's entitlement calculated pursuant to section 15 of P.L.1996, c.138 (C.18A:7F-15).

3. This act shall take effect immediately but shall remain inoperative until the enactment into law of the annual appropriations act for the fiscal year ending June 30, 1998, P.L.1997, c.131.

This bill provides a supplemental appropriation of $17.3 million to restore a portion of the stabilization aid growth limit reduction which was made to the State aid of certain school districts for the 1997-98 school year under the "Comprehensive Educational Improvement and Financing Act of 1996," P.L.1996, c.138 (CEIFA). Under the provisions of CEIFA, the stabilization aid growth limit restricts the amount by which a district's State aid may increase over the prebudget year. For the

1997-98 school year, the growth limit is 8 percent or 1/2 of the district's enrollment increase between October 1991 and October 1997, whichever is greater.

Under the bill's provisions, any school district that received core curriculum standards aid in an amount that was less than 50% of its formula aid entitlement as a result of the application of the stabilization aid growth limit would be eligible for a supplemental appropriation in the 1997-98 school year. The $17.3 million supplemental appropriation would provide aid to 33 eligible school districts so that their core curriculum standards aid would equal at least 50% of their formula aid entitlement.

Supplemental appropriation of $17.3 million to restore stabilization aid growth limit reduction for certain public school districts.