This bill establishes a committee tasked with studying alternative funding methods for public education in New Hampshire, specifically focusing on reducing the state's reliance on local real estate property taxes. The committee will consist of nine members: five from the House of Representatives, appointed by the Speaker, including two from the Ways and Means Committee, two from the Education Committee, and one from the Finance Committee; and four members from the Senate, appointed by the Senate President. Legislative members will receive mileage compensation for their duties.

The committee is charged with making recommendations to rebalance and modify available revenue sources while assessing the current funding mechanisms for public education, particularly the impact of local property taxes. The committee will elect a chairperson, hold its first meeting within 45 days of the bill's passage, and must report its findings and recommendations by November 1, 2025. The bill will take effect immediately upon passage.