This bill amends several sections of the Tax Equity and Educational Opportunities Support Act to update provisions related to foundation aid and certification dates for school districts in Nebraska. Notably, it establishes a new formula for calculating foundation aid, which will be set at $1,500 per formula student for the school fiscal years 2023-24 and 2024-25. Starting in the 2025-26 school year, the foundation aid will be adjusted based on the previous year's aid and the Consumer Price Index. Additionally, the bill specifies that 24% of the total foundation aid will be funded from the Education Future Fund and outlines the distribution of state aid amounts to local systems.

The bill also revises certification deadlines, requiring the department to determine and certify budget authority and state aid amounts by June 15, 2025, and March 1 of each subsequent year. It nullifies any prior certifications for the 2025-26 school fiscal year that were completed before the effective date of the act. Furthermore, the bill mandates that the Appropriations Committee include necessary funding amounts in its annual recommendations to the Legislature. The original sections of the law being amended are repealed, and the act is set to take effect immediately upon passage due to the declaration of an emergency.

Statutes affected:
Introduced: 79-1006, 79-1022, 79-1022.02, 79-1023, 79-1027, 79-1031.01