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 framework for calculating foundation aid, specifying that for the school fiscal years 2023-24 and 2024-25, the aid will be set at $1,500 multiplied by the number of formula students. Starting in the 2025-26 school year, the aid will be adjusted based on the previous year's aid amount and the Consumer Price Index. Additionally, the bill modifies certification deadlines, requiring the department to determine and certify amounts to local systems by June 15, 2025, and March 1 of each subsequent year.

The bill also nullifies any prior certifications of state aid and budget authority completed before the effective date of the act for the 2025-26 school fiscal year. It includes provisions for the distribution of state aid and budget authority, ensuring that these amounts are reflected accurately in local system budgets. The original sections of the law being amended are repealed, and the act is set to take effect immediately upon passage due to the declaration of an emergency.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