Bill > SB240

This bill modifies how school funding is calculated in Oklahoma, with key changes beginning in the 2026-2027 school year. The legislation updates several aspects of the state's school funding formula, including increasing the percentage of funds retained by the State Department of Education from 1.5% to 4% for midyear adjustments. The bill removes several outdated definitions and calculations related to assessed valuation, instead basing calculations on actual ad valorem tax collections from the preceding fiscal year. It changes how State Aid is calculated by using the higher of two weighted average daily membership (ADM) calculations and modifies how transportation supplements and salary incentive aid are determined. The bill also eliminates some reporting requirements, such as certain tax protest and county levy reporting, and simplifies various statutory provisions related to school funding. Notably, the bill removes language about developing a student identification system and adjusts how general fund balance penalties are calculated. The changes aim to streamline school funding calculations and reporting while providing more flexible funding mechanisms for school districts. The act is set to become effective on November 1, 2025.

Education

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb240&Session=2600