NJ A6205

Establishes a 13-member "School Finance Reform Commission" within the Department of Education to study and recommend improvements to school budgeting, finance, and funding in New Jersey

Commission membership includes the Commissioner of Education, President of the State Board of Education, and 11 public members appointed by legislative leaders and the Governor (with bipartisan requirements for gubernatorial appointees)

Primary focus areas include school district property tax levies, the tax levy growth limitation established under existing law, and the calculation of local share used to determine equalization aid allocations

Commission must organize within 30 days of member appointments and submit a final report with findings and recommendations to the Governor and Legislature within one year of organizing

The act expires 30 days after the commission issues its final report; members serve without compensation but receive reimbursement for necessary expenditures