Assembly Bill 495 proposes significant changes to the funding structure for school districts in Wisconsin, particularly regarding general equalization aids and per pupil revenue limits. The bill repeals certain provisions of existing law and introduces new language to adjust the per pupil revenue limit based on the previous year's amount, modified by the consumer price index, starting in the 2025-26 school year. It also increases state aid distributed to school districts through the equalization formula by $493.8 million for the 2025-26 school year and $699.9 million for the 2026-27 school year. Additionally, the bill ensures that each school district receives at least the same amount of total state aid in the 2025-26 school year as it did in the 2024-25 school year, providing an extra $31 million for this purpose.

The bill includes several amendments and deletions to existing statutes, such as the repeal of sections related to supplemental hold harmless aid and adjustments to revenue limits. Notably, it creates new provisions for supplemental hold harmless aid and modifies the calculation of revenue limits to reflect the new per pupil adjustment mechanism. The changes aim to provide more equitable funding for school districts while ensuring that they do not experience a decrease in state aid from the previous year. The bill is set to take effect the day after publication, with specific provisions taking effect on July 1, 2026.

Statutes affected:
Bill Text: 20.255(2)(ac), 20.255, 121.905(3)(c)6, 121.905, 121.905(3)(c)9, 121.91(2m)(j)2, 121.91, 121.91(2m)(j)3, 121.91(2m)(r)1.b, 121.91(2m)(s)1.b