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 school year while decreasing the June payment by 2 percentage points. By the 2029-30 school year, both September and June payments will be equalized to 25%, resulting in four equal installments for school districts.

The bill includes specific amendments to the legal language governing these payments. It repeals the existing provisions regarding the distribution percentages for the 2024-25 school year and creates new sections that outline the adjusted percentages for the subsequent school years, culminating in the equal distribution starting in 2029-30. The changes are set to take effect the day after publication, with the renumbering and repeal of certain sections effective from July 1, 2030.