New Jersey § 18a:58-37

§ 18a:58-37.

a. The support limit for the 2016-2017 school year shall be $75. For each school year thereafter the commissioner shall determine the support limit

by multiplying the support limit for the previous school year times the sum of 1.0

plus the average annual percentage increase in the consumer price index for the New

York and Philadelphia areas during the fiscal year preceding the prebudget year as

reported by the United States Department of Labor. b. On or before November 5 of each year, each board of education shall forward to

the Commissioner of Education an estimate of the cost of providing, during the next

school year, the security services, equipment, or technology required pursuant to

this act and the number of students attending nonpublic schools located within the

district as of the last school day of October of the current school year. The commissioner shall provide State aid to each school district in an amount equal

to the number of nonpublic school students within the district identified by the district

on or before November 5 multiplied by the State support limit. In the event that the expenditure incurred by any district is less than the amount

of State aid received, the district shall refund the unexpended State aid after the

completion of the school year, but not later than December 1 of the following school

year. c. If in any year, the amount of State aid appropriated is insufficient to carry out

in full the provisions of this act, the commissioner shall apportion that appropriation

among the districts in proportion to the State aid each district would have received

had the full amount of State aid been appropriated. In any year, no district shall be required to make expenditures for the purposes

of this act in excess of the amount of State aid received for these purposes.