Read the full stored bill text
A4828
ASSEMBLY, No. 4828
STATE OF NEW JERSEY
222nd LEGISLATURE
�
INTRODUCED MAY 4, 2026
Sponsored by:
Assemblyman� WAYNE P. DEANGELO
District 14 (Mercer and Middlesex)
SYNOPSIS
���� Lowers threshold of achievable net present value
savings needed in refinancing of school district debt.
CURRENT VERSION OF TEXT
���� As introduced.
��
An Act
concerning refinancing of school district debt and
amending P.L.2007, c.53.
����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:
���� 1.��� Section 1 of P.L.2007,
c.53 (C.18A:55-3) is amended to read as follows:
���� 1.��� As a condition of
receiving State aid, a school district shall:
���� a.���� examine all available
group options for every insurance policy held by the district, including any
self-insurance plan administered by the New Jersey School Boards Association
Insurance Group on behalf of districts, and shall participate in the most cost
effective plans;
���� b.��� take steps to maximize
the district's participation in the federal Universal Service Program (E-rate)
and the ACT telecommunications program offered through the New Jersey
Association of School Business Officials;
���� c.���� participate in the
Alliance for Competitive Energy Services (ACES) Program offered through the New
Jersey School Boards Association, unless the district is able to demonstrate to
the commissioner that it receives goods or services at a cost less than or equal
to the cost achieved by participants in the program;
���� d.��� take appropriate steps
to maximize the district's participation in the Special Education Medicaid
Initiative (SEMI) Program, with maximum participation defined by the
commissioner; and
���� e.���� refinance all
outstanding debt for which a
[
3%
]
two
percent
net present value savings threshold is achievable.
(cf: P.L.2007, c.53, s.1)
���� 2. This act shall take effect
immediately and shall first apply to the first full school year following the
date of enactment, except that the Commissioner of Education may take any administrative
action in advance as shall be necessary for the implementation of this act.
STATEMENT
���� This bill lowers the threshold
of achievable net present value savings needed in the refinancing of a school
district�s outstanding debt.
���� Current law requires school
districts to implement a number of efficiency standards as a condition of
receiving State aid.� One of the requirements is that a school district
refinances all outstanding debt for which a three percent net present value
savings threshold is achievable.� This bill lowers the threshold from three
percent to two percent.