Synopsis As Introduced Creates the School Funding Crisis Referendum Act. Requires a statewide advisory referendum at the 2008 general election. Sets forth questions concerning (i) the use of State revenues from any expansion of gaming for the funding of special education, school construction, and school transportation, without decreasing other State funding for those education needs, and (ii) an accompanying reduction of real property taxes at a rate of 50 cents per dollar of revenue. Repeals the Act December 31, 2010. Effective immediately.