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 the core instruction amount and the amount to support high-need students, multiplied by the district state-share ratio. The core instruction amount is based on a statewide per-pupil amount and the district average daily membership. The amount to support high-need students is determined by multiplying a student success factor by the core instruction per-pupil amount, and is applied to each resident child whose family income is at or below 185% of federal poverty guidelines. The bill also allows local education agencies to use a portion of the funds received to expand learning opportunities, and requires the Department of Elementary and Secondary Education to promulgate regulations to implement the purposes of the act.

The bill also specifies that when over 45% of resident children in a local education agency are classified as "poverty status," the student success factor will be 50% instead of 45%. The bill takes effect upon passage.

Statutes affected:
6112: 16-7.2-3