The bill is a joint resolution from the Montana Senate and House of Representatives that requests an interim study to explore the incorporation of regional cost adjustments in the state's school funding formula. It highlights the significant variation in the median market value of residential properties across Montana school districts and notes that many other states have successfully implemented regional cost adjustments to promote funding equity. The resolution emphasizes that the absence of such adjustments in Montana's current funding formula may hinder school districts' ability to provide equal educational opportunities, as guaranteed by the Montana Constitution.

The resolution calls for the Legislative Council to designate an appropriate interim or statutory committee to investigate metrics for assessing regional cost differences affecting school district expenditures, examine how other states have integrated these adjustments, and evaluate the potential benefits of incorporating cost adjustments into Montana's funding formula. The study's findings and recommendations are to be presented to the designated committee and reported to the 69th Legislature by September 15, 2024.