This bill, titled the Education Equity and Property Tax Relief Act, makes several amendments to provide direct state funding for various categorical programs in education. It adds a new section that outlines the specific programs eligible for state funding, including special education costs, career and technical education costs, pre-kindergarten programs, stabilization funds for certain schools, transportation costs for non-public schools and regional school districts, and a regionalization bonus for regionalized school districts. The bill also provides additional state support for English learners.

Additionally, the bill establishes a new categorical funding category for school security. School districts may be reimbursed up to one-half of the cost of funding qualified school security infrastructure and physical improvements. To access this funding, school districts must apply directly to the school building authority and meet certain requirements. The bill defines what qualifies as qualified school security infrastructure and physical improvements.

Statutes affected:
5628: 16-7.2-6