The bill amends section 79-1003 of the Reissue Revised Statutes of Nebraska, focusing on the Tax Equity and Educational Opportunities Support Act by redefining "formula students." It increases the percentage of qualified early childhood education fall membership included in the formula from sixty percent to one hundred percent. This change is intended to more accurately reflect the role of early childhood education in the overall student population used for state aid calculations, thereby enhancing the fairness of funding allocations for educational institutions in Nebraska.

Additionally, the bill includes a provision to repeal the original section of 79-1003, ensuring that the updated definitions and calculations are the only ones in effect. It also outlines various definitions related to educational funding, such as state aid and special grant funds, and clarifies the roles of the State Board of Education. Overall, the bill aims to modernize and clarify the legal framework governing educational funding in Nebraska, particularly emphasizing the importance of early childhood education in the funding formula.

Statutes affected:
Introduced: 79-1003