"School Property Tax Relief Trust Fund Act"; appropriates $2 billion.

S 1184 establishes a $2 billion "School Property Tax Relief Trust Fund" within New Jersey's Department of Education, funded by state general funds and eligible federal pandemic recovery money. The bill creates a grant program allowing school districts to receive one-time funding - payable as a lump sum or over five years - to cover capital projects, hire teachers, or absorb wage/benefit increases. School districts accepting grants must freeze property tax rate increases for five years and cannot reapply for another grant until five years later. The fund must be invested to maintain long-term viability, and preference is given to districts with plans to reduce spending through consolidation or cost-saving measures.