Bill > HB533

This bill establishes the Renewing Alabama's Investment in Student Excellence (RAISE) Act, which creates a new funding mechanism for Alabama public schools that provides additional financial resources based on specific student characteristics. The act creates a RAISE Fund that will allocate extra funding for students in categories such as poverty, special education, English language learners, charter school students, and gifted students, with each category receiving a weighted allocation percentage. Local education agencies (LEAs) will receive additional funds based on the number of qualifying students in these categories, with the goal of addressing individual student needs and improving educational outcomes. The bill mandates the creation of a professional learning series to help education leaders understand the new funding model, establishes a RAISE Act Review Committee to annually assess the program's effectiveness, and creates a RAISE Act Accountability and Implementation Board to monitor how funds are spent and ensure they are improving student achievement. Additionally, the bill requires the development of a unified application system by 2028-2029 to streamline funding applications and reporting, and mandates transparency through reporting academic outcomes and funding allocations for each targeted student group on the state's Education Report Card website.