Bill > LB711

This bill modifies several provisions of the Tax Equity and Educational Opportunities Support Act, primarily changing certification dates and adjusting calculations for school district funding. Specifically, the bill shifts key certification dates from June 15, 2023 to June 15, 2025 for state aid, budget authority, and reserve percentage determinations. The bill updates the "new schools adjustment" process, which allows school districts to apply for additional funding when they expand facilities to accommodate student growth, by increasing the second-year adjustment percentage from 10% to 20% of the approved estimated additional student capacity. The legislation also nullifies any prior certifications for the school fiscal year 2025-26 that were completed before the act's effective date, ensuring that new calculations will be used. Additionally, the bill provides more flexibility for school districts in calculating their budget authority, taking into account factors like student growth adjustments and basic allowable growth rates. The changes aim to provide more accurate and responsive funding mechanisms for school districts, with an emergency clause making the act effective immediately upon passage.