12. a. Notwithstanding the provisions of N.J.S. 18A:13-34 or any other law, rule, or regulation to the contrary, the Commissioner of Education may permit the board of education of a regional district and the board or boards of education of one or more local districts, boards of education of two or more local districts, the board of education of a consolidated district, or the board of education of a district comprising two or more municipalities seeking to form or enlarge a limited purpose or all purpose regional district to agree to phase-in payment of the amount to be paid by each district under the apportionment method adopted by the voters. The phase-in payment schedule shall be for a period not to exceed 10 years. Following completion of the phase-in payment period, the method of apportionment shall revert to full payment under the method approved by the voters.

b. Notwithstanding the provisions of N.J.S. 18A:13-34 or any other law, rule, or regulation to the contrary, the Commissioner of Education may permit the board of education of a regional district and the board or boards of education of one or more local districts, boards of education of two or more local districts, the board of education of a consolidated district, or the board of education of a district comprising two or more municipalities seeking to form or enlarge a limited purpose or all purpose regional district to agree to establish a transitional methodology, not to exceed 10 years, of the apportionment method adopted by the voters provided that the methodology is agreed to by all participating districts.

L.2021, c.402, s.12.