Legislative Session number- 86

Bill Name: SF0348

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)