This bill amends the Education Equity and Property Tax Relief Act to establish permanent foundation education aid. It specifies that the foundation education aid for each district will be determined by a formula that includes a core instruction amount and an amount to support high-need students. The core instruction amount is based on a per-pupil amount derived from expenditure data and enrollment data. The amount to support high-need students is determined by multiplying a student success factor by the core instruction per-pupil amount for each resident child whose family income is at or below 185% of federal poverty guidelines. The bill also requires the department of elementary and secondary education to review the student success factor and report its findings to the governor and legislative leaders by October 1, 2023. The bill takes effect upon passage.

Statutes affected:
235: 16-7.2-3