The bill proposes the establishment of a Property Value Study Hardship Grant Program, which will be administered by the commissioner for the 2025-2026 and 2026-2027 school years. This program aims to provide financial assistance to eligible school districts that experience a reduction in funding under the Foundation School Program due to the use of the state value for the district's taxable property value for the 2024 and 2025 tax years. The grants will be calculated as the difference between the funding the district would have received using local taxable values and the funding it is entitled to under existing laws. The total amount of grants awarded in a school year is capped at $175 million, and priority will be given to districts facing the largest percentage reductions in funding.

Additionally, the bill specifies that open-enrollment charter schools are not eligible for these grants, and the funding provided will be in addition to other funding sources under existing chapters of the Education Code. The commissioner has the authority to require additional information from school districts to make determinations regarding grant eligibility, and their decisions will be final and non-appealable. The section establishing this grant program will expire on September 1, 2027, and the act will take effect on September 1, 2025.

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