AK SB277

Increases the base student allocation from $6,660 to $6,786.54 and eliminates the 90% funding multiplier for correspondence study programs, allowing them to receive full ADM-based funding beginning July 1, 2026

Raises the administrative cost cap that school districts may retain from charter school budgets from 4% to 8% of the department-approved indirect cost rate, and requires correspondence program cooperative arrangements to specify administrative fees capped at 8%

Expands teacher certification eligibility by accepting baccalaureate degrees from institutions accredited by any recognized institutional accrediting association rather than only regional accrediting associations

Allows regional resource centers to reemploy retired teachers' retirement system members under the same conditions as school districts, and permits students leaving correspondence programs to retain textbooks and curriculum materials

Requires the Legislative Budget and Audit Committee to procure an education funding study by January 1, 2027, in consultation with the University of Alaska Anchorage's Institute of Social and Economic Research, examining funding stability, geographic factors, and alternative school funding methods