Bill > S2149

This bill makes several key changes to the state's Chapter 70 education funding formula: 1. It updates the definitions and formulas used to calculate a district's "foundation budget," which is the amount of funding considered necessary to provide an adequate education. This includes changes to how enrollment, employee benefits, and other cost factors are determined. 2. It modifies the "required local contribution" calculation to limit annual increases for certain lower-income districts that did not receive new foundation aid in recent years. 3. It establishes a data advisory committee to improve reporting and analysis of school-level financial and student data to support strategic resource allocation decisions. 4. It repeals several existing sections of the Chapter 70 law, including provisions related to "minimum aid" and "equity aid." 5. It specifies that state education aid provided under Chapter 70 will consist of a district's base aid, foundation aid increment (if any), and minimum aid increment (if any). The overall goal of the bill appears to be updating the education funding formula to better reflect the actual costs of providing an adequate education, while also providing more data and transparency around how funds are allocated and used at the local level.

https://malegislature.gov/Bills/190/S2149