NJ S1258

Provides State school aid to New Jersey school districts experiencing enrollment increases when age-restricted housing developments convert to non-age-restricted developments under P.L.2009, c.82.

Calculates "converted development assistance aid" by multiplying the enrollment increase (from the year before conversion to the budget year) by the lesser of the district's actual cost per pupil or adopted tuition rate.

Limits the enrollment increase used in calculations to the actual number of students residing in converted developments who attend public schools, charter schools, or are placed in other schools by the district.

Restricts additional State aid for converted development students to only extraordinary special education costs and transportation aid beyond the standard per-pupil amount.

Takes effect immediately and applies to the first full school year following enactment.