NJ S2879

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

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 no more than two of the Governor's three appointees from the same political party)

Primary focus areas include school district property tax levies, the tax levy growth limitation established under P.L.2007, 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 to the Governor and Legislature within one year of organizing

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