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 the term "formula students." The amendment increases the percentage of qualified early childhood education fall membership and average daily membership from sixty percent to one hundred percent. This change is designed to better align the calculation of formula students with the enrollment and funding requirements of early childhood education programs, thereby enhancing the state's educational funding framework.

Furthermore, the bill includes a provision to repeal the original section 79-1003, ensuring that the new definitions and calculations are the sole references in effect. This legislative update aims to improve the accuracy and effectiveness of funding allocations for educational institutions in Nebraska, particularly emphasizing the importance of early childhood education as a vital part of the educational system. The bill also establishes various definitions related to educational funding, which are essential for understanding the financial framework that governs fund distribution to school districts under the Tax Equity and Educational Opportunities Support Act.

Statutes affected:
Introduced: 79-1003