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." It increases the percentage of qualified early childhood education fall membership and average daily membership counted towards formula students from sixty percent to one hundred percent. This change is intended to more accurately include early childhood education in the overall student count for state aid calculations, thereby enhancing funding allocations for educational opportunities in Nebraska.

Furthermore, the bill repeals the original section 79-1003, signifying a comprehensive update to the definitions and terms used within the Tax Equity and Educational Opportunities Support Act. The new language aims to clarify and modernize the legal framework governing educational funding, establishing essential definitions such as "state aid," "state support," and "very sparse local system." These updates are designed to improve the effectiveness of funding mechanisms for elementary and secondary education in the state, particularly by acknowledging the significance of early childhood education.

Statutes affected:
Introduced: 79-1003