The bill amends the State School Aid Act of 1979 by updating the appropriations for the fiscal year ending September 30, 2026. It specifies that a total of $100.00 will be appropriated from various funds, including the state school aid fund, general fund, community district education trust fund, school transportation fund, enrollment stabilization fund, school meals reserve fund, great start readiness program reserve fund, MPSERS retirement obligation reform reserve fund, and educator fellowship public provider fund. Additionally, it states that all available federal funds are appropriated as allocated for the same fiscal year.

Furthermore, the bill modifies the payment schedule and procedures for distributing funds to school districts and intermediate districts. It establishes that the state treasurer must pay installments on specific dates and clarifies that the portion of the entitlement included in each installment must be 1/11. The bill also allows for adjustments in payments due to changes in law or errors in computation and permits the advance release of funds under certain conditions, ensuring that such advances do not occur more than 30 days before the established payment date.

Statutes affected:
Senate Introduced Bill: 388.1611, 388.1617