NJ S1378

Establishes a State aid reduction cap limiting how much a school district's State school aid can be cut from one year to the next

Sets the cap at 15% of the prior year's aid when calculated under the "S2" formula (P.L.2018, c.67), meaning districts receive at least 85% of their previous year's funding

Sets the cap at 5% of the prior year's aid when calculated under the School Funding Reform Act of 2008, meaning districts receive at least 95% of their previous year's funding

Amends existing law to ensure the State aid reduction cap applies to districts participating in regional school district feasibility studies and grant programs

Takes effect immediately upon enactment