Requires nonpublic secondary schools and independent institutions of higher education to make payment to school districts for educational costs of students residing in tax-exempt housing upon adoption of resolution by municipal governing body.

This bill requires nonpublic secondary schools (grades 9-12) and independent colleges/universities in New Jersey to pay school districts for students living in tax-exempt housing owned by those institutions. Specifically, if a municipality passes a resolution, these schools must pay annually based on the district’s average per-student cost (calculated by dividing the district’s local tax levy by its student enrollment). School districts must notify the institutions by November 1st each year of the exact payment amount, which must be paid within 60 days. The law directly affects institutions owning tax-exempt housing where enrolled students reside, ensuring school districts receive funding for those students’ educational costs.