HR263 Summary

• Establishes the Legislative Study Commission on Modernizing K-12 School Education Funding in response to Act 2024-128 signed by the Governor on April 30, 2024.

• Commission membership includes all members of the House Ways and Means Education Standing Committee and all members of the Senate Finance and Taxation Education Standing Committee, with co-chairs from each committee.

• Directs the commission to study transitioning from a resource-based K-12 education funding model to a student-based model with greater flexibility, including analysis of costs, budget impacts, tax and revenue changes, and required legislative changes.

• Requires the Fiscal Division of the Legislative Services Agency and legislative clerks to provide administrative support and the commission to report findings and recommendations to the Legislature by February 1, 2025.

• Commission members receive legislative compensation, per diem, and travel expenses for meeting attendance, and the commission dissolves upon submission of its final report.