The bill amends section 79-1003 of the Reissue Revised Statutes of Nebraska, which relates to the Tax Equity and Educational Opportunities Support Act, by redefining key terms essential for calculating state aid to local school systems. A significant change includes the deletion of the phrase "one hundred ten percent of" concerning the calculation of free lunch and free milk eligible students, which may impact how these figures are computed for schools participating in the community eligibility provision. The intent of these amendments is to clarify the parameters for determining financial assistance, ensuring that the calculations align with current educational and economic conditions.

Additionally, the bill establishes definitions for various terms related to educational funding, such as "statewide average basic funding per formula student" and "very sparse local system," which are crucial for understanding the funding framework. It also includes a provision to repeal the original section 79-1003, indicating a significant update in the legal framework governing educational funding in Nebraska. Overall, the bill seeks to enhance the effectiveness of the funding formula and promote equitable distribution of resources to support educational opportunities across the state.

Statutes affected:
Introduced: 79-1003