Senate Bill No. by Senator Duplessis proposes the establishment of the Educational Compensation Fund as a special fund within the state treasury, aimed at providing supplemental payments to public elementary and secondary school employees. The bill mandates that the state treasurer allocate funds equivalent to the revenue generated from specific sales taxes to this fund, ensuring that the amount is sufficient to fully support the provisions outlined in the bill as certified by the commissioner of the division of administration. The fund will be utilized exclusively for providing a supplemental payment of $2,000 to certificated personnel and $1,000 to noncertificated personnel, along with the associated employer retirement contributions. Payments are to be distributed by school districts by December 15 each year.

Additionally, the bill stipulates that any unspent funds at the end of each fiscal year will remain in the Educational Compensation Fund for future use, and it explicitly states that appropriations made under this law will not be subject to budget reductions by the governor. The effective date for this legislation is set for July 1, 2025.