Establishes Stabilized School Budget Aid Grant Program to restore certain portions of State school aid reductions; permits certain school districts to exceed tax levy growth limitation in 2024-2025 school year; appropriates $44.7 million.*

This bill establishes a $44.7 million Stabilized School Budget Aid Grant Program to help eligible New Jersey school districts affected by state aid cuts in the 2024-2025 school year. It provides grants covering two-thirds of each district's state aid reduction (capped at 9.9% of their prior year's tax levy) and allows eligible districts to temporarily exceed normal tax increase limits to offset these cuts. Districts receiving aid must maintain staff levels from the previous year unless enrollment declines, requiring commissioner approval for reductions. The program specifically excludes SDA districts (special needs districts) from the tax levy exception but does not affect their existing tax authority.