NJ S4959

Establishes a 13-member School Finance Reform Commission within the Department of Education, comprising the Commissioner of Education, President of the State Board of Education, and 11 public members appointed by legislative leaders and the Governor

Requires the commission to study and recommend improvements to school district property tax levies, tax levy growth limitations, and the calculation of local share used to determine equalization aid allocations

Mandates appointments within 30 days of the act's effective date, with the commission organizing within 30 days of member appointments

Commission must submit a report with findings and recommendations to the Governor and Legislature within one year of organizing, to be posted on the Department of Education website

The act expires 30 days after the commission issues its final report