This bill amends section 79-1003 of the Reissue Revised Statutes of Nebraska, focusing on the Tax Equity and Educational Opportunities Support Act. The key change involves redefining "formula students" by increasing the percentage of qualified early childhood education fall membership and average daily membership from sixty percent to one hundred percent. This adjustment is designed to better align the calculation of formula students with the enrollment and funding needs of early childhood education programs, thereby enhancing the state's educational funding framework.

Additionally, the bill includes a provision to repeal the original section of 79-1003, ensuring that the new definitions and calculations are the only ones in effect. This legislative update aims to clarify various definitions related to educational funding, such as "state aid," "state support," and "tuitioned students," while also introducing the term "very sparse local system" to describe local education systems with low student density. Overall, the changes are intended to improve the accuracy and effectiveness of funding allocations for educational institutions in Nebraska, particularly in supporting early childhood education initiatives.

Statutes affected:
Introduced: 79-1003