2013 budget: schools to benefit; transitional aid down, according to sources

TRENTON – The budget Gov. Chris Christie will propose today anticipates some $31.9 billion in revenues, approximately $2 billion higher than last year, and there will be more money made available to schools and municipalities, sources said.

The fiscal year 2013 budget calls for increasing state aid, specifically the Comprehensive Municipal Property Tax Reform Act (CMPTRA), by approximately $48 million.

However, Transitional Aid would dramatically fall, by about $56 million, the sources said. State aid for public schools would increase by $200 million, they said.

2013 budget: schools to benefit; transitional aid down, according to sources