Permits board of education to accept donations for purpose of providing property tax relief.

This bill allows New Jersey school districts to establish tax relief trust funds via board resolution. School boards may accept donations (bequests, gifts, or legacies) into these funds, which must be used exclusively to reduce local property taxes for residents in the district. A non-school board trustee must be appointed to manage the fund, remit payments to the tax collector, and ensure funds directly offset the annual property tax levy. The trust fund rules require clear documentation of how tax reductions will be applied each year. This creates a new mechanism for districts to potentially lower property tax burdens through community contributions, without affecting state aid eligibility.