Each of New Jersey’s 615 school districts would receive 2 percent to 20 percent more in state aid next year under a new financing formula unveiled by Gov. Jon S. Corzine. The new formula would raise overall state education spending in the 2008-9 school year by $532.8 million. The plan is part of the governor’s effort to address criticism that many districts have been shortchanged in favor of poor schools.
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EARLIER: New Jersey Gov. Jon S. Corzine plans to propose a new school financing formula that would give at least $400 million in new state money to poor and disadvantaged children who live outside traditional inner-city school districts. The new formula would replace the so-called "Abbott" system that concentrates education spending on 31 districts in historically poor cities like Newark, Camden and Paterson. The new approach would apportion money to schools based on the characteristics of the students, including income, language ability and special academic needs.
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