The bill aims to repeal the 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 designed to provide financial awards to schools based on high student performance and academic growth. The bill removes language that emphasizes the need for an incentive program and the concept of performance-based incentives, which were intended to reward productivity in the public sector similar to the private sector.

In the revised language, the bill clarifies that financial awards will now be provided to both public schools and open-enrollment public charter schools, with specific criteria for eligibility based on student performance and academic growth. The amendments also change the terminology from "performance-based funding" to "financial awards" and outline how these funds should be distributed and utilized by the schools. Additionally, the bill ensures that the awards are exempt from certain funding regulations and mandates that the General Assembly provide sufficient funds to implement the changes.