Bill > HB1086

This bill modifies Oklahoma's school funding and state aid regulations by making several key changes to existing laws. Specifically, the bill removes language that previously exempted certain funds from calculation of general fund carryover, updates references to statutory language, and extends the time period during which no penalty will be assessed for exceeding general fund carryover limits. The bill adjusts how per pupil revenue is calculated by modifying the formula for determining revenues and weighted average daily membership, and removes some specific calculations related to weighted membership for online course transfers. The legislation also extends the exemption from general fund balance penalties for school districts through the fiscal year beginning July 1, 2024, providing continued flexibility for school districts in managing their finances. The bill aims to provide more consistent and adaptable funding mechanisms for school districts, with provisions that allow for midyear adjustments and account for various financial scenarios such as tax settlements, emergency funding, and district consolidations. The changes will take effect on July 1, 2025, and the bill includes an emergency clause to ensure immediate implementation upon passage.

Budget and Finance, Education

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1086&Session=2600