This bill amends the definitions related to the school funding formula in South Dakota, specifically within section 13-13-10.1. Key changes include the inclusion of nonresident students in the care of state agencies in the fall enrollment count of the receiving district, and the establishment of a target teacher salary of $62,045.62 for the school fiscal year beginning July 1, 2024, which will be adjusted annually based on the consumer price index. The bill also clarifies the calculation of local need, local effort, and other funding-related terms, ensuring that various adjustments and factors are accounted for in determining school funding.

Additionally, the bill specifies that the overhead rate will be adjusted starting in the 2018 school fiscal year to reflect the amounts that districts exceed the other revenue base amount. It introduces new calculations for alternative per student need and alternative local need, which are applicable to certain school districts. The bill aims to provide a clearer framework for funding calculations, ensuring that schools receive adequate resources based on their specific needs and circumstances.

Statutes affected:
Introduced, 12/27/2024: 13-13-10.1
Enrolled, 02/10/2025: 13-13-10.1