The proposed bill aims to enhance funding for K-12 education and improve community safety in Washington State by modifying property tax authority and adjusting the school funding formula. It seeks to increase the levy authority for state and local property taxes from one percent to three percent, allowing for greater investment in public education and safety measures. Key amendments include setting the maximum dollar amount for school district enrichment levies at $2.50 per $1,000 of assessed property value and adjusting local effort assistance funding for school districts. The bill also introduces new definitions related to inflation and mandates the Department of Revenue to provide necessary limit factors for county assessors to comply with the new provisions, ensuring equitable funding for all school districts.

Additionally, the bill revises the funding allocation for special education programs, establishing new criteria for excess cost allocation and safety net awards. It requires the superintendent of public instruction to develop a new allocation methodology that accounts for expenditures beyond the current funding formula. A K-12 funding equity work group is also established to analyze and propose revisions to address funding inequities based on student needs, with annual reports due through 2027. The bill includes provisions for the superintendent to propose financial options based on anticipated state revenue and sets a timeline for implementation, with certain sections taking effect on September 1, 2028.

Statutes affected:
Original Bill: 84.52.0531, 28A.500.015, 84.55.005, 84.04.140, 28A.150.390, 28A.150.392, 28A.150.560