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's responsibilities include making recommendations for rebalancing revenue sources and evaluating the current funding mechanisms for public education, particularly the impact of local property taxes. The committee will elect a chairperson and must hold its first meeting within 45 days of the bill's passage. It is required to report its findings and any legislative recommendations by November 1, 2025. The bill will take effect immediately upon passage.