NJ A5966

Requires the Commissioner of Education to provide school districts with preliminary State aid notices by the first week of December each year, detailing minimum State aid for the succeeding school year, and to disclose projected Statewide property value and income rates used in local share calculations

Changes the Educational Adequacy Report approval process so the Legislature must adopt a concurrent resolution to approve the report, rather than the current system where reports are automatically approved unless the Legislature objects

Revises how school districts' local share is calculated by using a three-year average of equalized property values and district income, with annual increases capped at 5% for the most recent year

Allows school districts facing State aid reductions to delay submitting their budget until five days after the appropriations act is enacted and to revise their budget within the first six months of the budget year

Establishes a New Jersey Education Funding Portal on the Department of Education website to provide public access to school funding data, calculations, and an interactive tool to estimate how changes in enrollment, property values, and income affect State aid