This bill amends several sections of the Tax Equity and Educational Opportunities Support Act in Nebraska, specifically addressing the calculation and distribution of foundation aid to school districts. It establishes that for the school fiscal years 2023-24 and 2024-25, foundation aid will be set at $1,500 per formula student. Starting in the 2025-26 school fiscal year, the aid will be adjusted based on the previous year's aid amount and the Consumer Price Index. Additionally, the bill modifies the certification dates for state aid and budget authority, requiring the department to determine and certify these amounts by June 15, 2025, and March 1 of each subsequent year.

The bill also nullifies any prior certifications of state aid and budget authority for the 2023-24 school fiscal year, ensuring that all calculations align with the new provisions. It 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 The original sections of the law being amended are repealed, and the act is set to take effect immediately upon passage due to the declaration of an emergency.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