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Governor Murphy Approves Legislation to Ease School Budget Cuts

On Tuesday, Governor Murphy signed two bills into law that will provide relief to school districts facing reductions in state aid under the school funding formula for the 2024-2025 school year.

Nearly $45 million has been appropriated to provide districts with grants equal to 45% of their state aid reduction. In addition, this legislation allows certain districts to request increases in their adjusted property tax levies above the current two percent cap. Among the 140 districts eligible for this stopgap aid measure are Asbury Park, Neptune Township and Long Branch, which all saw significant reductions in state funding.