Relating to education finance; modifying the school finance system and creating a new education funding framework; modifying the calculation of the first and second tier equalized debt service levies for school districts; establishing a school bond agricultural credit, specifying eligibility, credit amount, credit reimbursements and payments to school districts; providing for career and technical aid and eliminating levy criteria; modifying requirements to be considered a pupil of limited English proficiency (LEP); modifying the formula for school district limited LEP revenue and school district special education aid and excess cost aid; establishing an adjusted net tax capacity; equalizing factor calculation, a referendum market value equalizing factor and a location equity index calculation; modifying the pupil unit calculation; modifying the computation of compensation revenue pupil units; eliminating adjusted marginal cost pupil units and resident marginal cost pupil units; modifying the computation of average daily membership; clarifying eligibility requirements for free and reduced-price lunches; modifying the process of determining LEP pupil units; establishing an education funding framework, providing for general classroom funding, district instructional services and district support services; modifying general education revenue, basic revenue, extended time revenue, declining enrollment revenue, location equity revenue, referendum replacement revenue, compensatory education revenue, basic skills revenue, total operating capital and technology revenue, uses of total operating capital revenue and transportation sparsity revenue; providing for transportation revenue calculation; specifying uses for school districts innovation revenue; modifying school districts general education aid and uses of general education revenue; modifying the calculation of school districts referendum allowance, referendum equalization revenue and referendum equalization levy; expanding the use of the annual general education aid appropriation to include special education aid, debt service aid and the school bond agricultural credit; expanding the purposes for which school districts can lease a building or land and modifying the authority computation; modifying statewide average revenue requirements; providing a phase-in for baseline revenue, new revenue, phase-in schedule, percentage and years of the phase-in; specifying instructions to the revisor of statutes; repealing certain provisions relating to school districts general education revenue, learning and development revenue, capital expenditure for health and safety revenue; deferred maintenance revenue, aid adjustments in response to changes in employer contribution rates, debt service appropriation, special education revenue and excess cost aid and the reallocation of general education revenue for all day kindergarten and prekindergarten
(je)