NJ S3620

Modifies New Jersey's school funding formula by removing the State average classification rate for special education, switching from a census-based model to actual special education costs (SE Cost) in the adequacy budget calculation

Establishes a Special Education Funding Review Task Force to examine current funding mechanisms and recommend improvements to the special education funding system

Requires the Department of Education to publicly post detailed, user-friendly calculations of each school district's State aid on its website within two days of the Governor's budget message

Expands the Educational Adequacy Report requirements to include review of equalized tax rate thresholds, adequacy spending thresholds, and allows use of alternative inflationary measures beyond CPI for adjusting per-pupil amounts

Mandates a 30-day public comment period with statewide hearings before finalizing the Educational Adequacy Report, allowing public input on draft recommendations for school funding variables