The bill proposes the repeal of performance-based incentive awards for public schools and open-enrollment public charter schools in Arkansas. It amends Arkansas Code 6-15-2107, which previously established the Arkansas School Recognition Program aimed at providing financial awards to schools based on high student performance and academic growth. The language indicating the need for an incentive program and the concept of performance-based incentives has been deleted, while new provisions have been added to include open-enrollment public charter schools in the program.

Additionally, the bill modifies the funding structure for these awards, replacing the term "performance-based funding" with "financial awards" and clarifying the distribution process. It specifies that funds will be allocated to the fiscal agents of public schools or open-enrollment public charter schools and outlines the intended use of these awards, which includes bonuses for faculty and staff, educational equipment, and temporary personnel to enhance student performance. The bill also ensures that the awards are exempt from certain funding regulations and mandates that the General Assembly provide sufficient funds for implementation.