This bill proposes the establishment of a comprehensive database of financial information for all school districts in Nebraska, which will be developed and maintained by the Department of Revenue. The database will include essential financial details such as revenue sources, expenditures, and a balance sheet reflecting all assets and liabilities, including committed and uncommitted funds. The Tax Commissioner is tasked with designating an implementation date for the database, which must be set on or before January 1, 2026.

Additionally, school districts are required to provide the necessary information to the Department of Revenue to facilitate the creation and upkeep of this database. They must submit updated financial information annually, and the department is obligated to refresh the database within thirty days of receiving such updates. Importantly, the bill clarifies that it does not mandate the disclosure of any information deemed confidential under state or federal law or that is not classified as a public record.