This bill establishes a requirement for the Nebraska Department of Revenue to create and maintain a publicly accessible database containing financial information from all school districts in the state. The database will include details such as revenue sources, expenditures, and a comprehensive balance sheet reflecting all assets and liabilities, including committed and uncommitted funds. The Tax Commissioner is tasked with setting an implementation date for the database, which must be on or before January 1, 2026.

Additionally, school districts are mandated to provide the necessary financial information to the Department of Revenue, with updates required on an annual basis. The department is responsible for updating the database within thirty days of receiving new information. Importantly, the bill clarifies that it does not compel the disclosure of any information deemed confidential under state or federal law or that is not classified as a public record.