The proposed bill amends the Public School Code of 1949 by introducing a new section, Section 132.1, which establishes a financial transparency data and reporting system. This system aims to enhance the transparency of basic education funding by creating a longitudinal data system that includes detailed information on funding subsidies, revenue and expenditure data for the past ten years, and data visualization dashboards. These dashboards will allow for simulations of changes to the funding formula and will be accessible to state agencies and the General Assembly. The bill outlines specific requirements for the system to ensure data reliability, accuracy, and compliance with privacy laws, including the Family Educational Rights and Privacy Act of 1974.

Additionally, the bill allows the Department of Education to expand the system to include local school entity financial data and to contract with third parties for its development. It also permits the use of federal, state, and other funds for the program. The definitions of key terms such as "Department," "longitudinal data system," and "small cell suppression" are provided to clarify the scope and intent of the legislation. The act is set to take effect 60 days after its passage.

Statutes/Laws affected:
Printer's No. 1693 (May 13, 2025): P.L.30, No.14