Reestablishes senior citizen supplemental stabilization aid.

S 1920 reestablishes a New Jersey state education aid program that provides $500 per student to school districts located in municipalities where over 51% of residents are age 65 or older (based on the latest federal census). This aid directly affects qualifying school districts, such as those in Manchester Township and Berkeley Township (which is part of the Central Regional School District), by supplementing existing funding. The bill calculates aid based on projected student enrollment in qualifying municipalities and reduces the local tax burden for those areas by lowering their share of regional school district levies. It reestablishes a program repealed in 2008 and applies starting with the 2008-2009 school year (though the current bill is newly introduced).