AL SR79

Creates the Legislative Study Commission on Modernizing K-12 School Education Funding, composed of all members of the Senate Finance and Taxation Education Standing Committee and the House Ways and Means Education Standing Committee.

Directs the commission to study the possibility of transitioning from a resource-based K-12 education funding model to a student-based model that provides greater flexibility.

Requires the commission to examine projected costs and budget impacts, changes to tax and revenue frameworks, required legal changes, and to develop proposed legislation if a specific modernization pathway is endorsed.

Senate Finance and Taxation Education Standing Committee chair and House Ways and Means Education Standing Committee chair shall serve as co-chairs, with meetings held as necessary.

Commission must submit a report of findings, conclusions, and recommendations to the Legislature no later than February 1, 2025, after which it shall be dissolved.