Senate Bill 341 proposes changes to the timing of equalization aid payments to school districts in Wisconsin. Currently, the Department of Public Instruction distributes equalization aid in four installments: 15% in September, 25% in December, 25% in March, and 35% in June. The bill aims to gradually adjust these percentages by increasing the September payment by 2 percentage points each year while decreasing the June payment by the same amount until both reach 25% by the 2029-30 school year. This change will result in equalization aid being distributed in four equal installments starting in the 2029-30 school year.

The bill includes specific legal modifications, such as the repeal of certain subsections of the current law regarding aid distribution and the creation of new subsections that outline the adjusted percentages for each school year from 2025-26 through 2029-30. Notably, the current provisions for aid distribution are deleted, and new provisions are inserted to reflect the updated payment structure. The act is set to take effect the day after publication, with specific provisions regarding the renumbering and repeal of existing sections taking effect on July 1, 2030.