Assembly Bill 354 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 amendments to the legal language governing these payments. It repeals the existing provisions regarding the distribution percentages for the years 2024-25 and creates new provisions for the years 2025-26 through 2029-30, detailing the incremental changes in payment percentages for each school year. The effective date of the bill is set for the day after publication, with certain provisions taking effect on July 1, 2030.