The bill amends the Public School Funding Act of 2003 to introduce additional qualifications for school districts to receive teacher salary equalization funding. Notably, it changes the starting school year for these qualifications from 2021-2022 to 2023-2024. The bill specifies that school districts identified by the Division of Elementary and Secondary Education as having an average annual teacher salary below the statewide target average annual salary will qualify for funding. Additionally, it includes a new provision that allows districts utilizing state funds equal to or exceeding 100% of the amount allocated for teacher salaries, based on the most recent adequacy funding matrix, to also qualify for this funding.

Furthermore, the bill establishes that for the 2023-2024 and 2024-2025 school years, the statewide target average annual salary will be set at $51,822. It outlines the process for determining eligibility for funding, including a review of certified salary data by the Division of Elementary and Secondary Education. The bill also stipulates that districts receiving funds from the Educator Compensation Reform Fund will be ineligible for teacher salary equalization funds during that fiscal year. Overall, the amendments aim to ensure that teacher salary equalization funding is directed appropriately to support districts with lower average teacher salaries.

Statutes affected:
HB 1773: 6-20-2305(b)