HB533 Summary

• Establishes the Renewing Alabama's Investment in Student Excellence (RAISE) Fund to provide additional K-12 school funding based on weighted allocations for students with specific needs (poverty, special education, English Language Learners, gifted, charter school students).

• Weighted allocations range up to 20% for poverty students, up to 150% for Tier III special education students, up to 15% for English Language Learners, up to 5% for gifted students, and up to 10% for charter school students.

• Requires local education agencies to submit accountability reports establishing achievement goals aligned with state standards and describing planned expenditures for weighted student groups by November 1 each year.

• Creates two oversight bodies: a RAISE Act Review Committee (established by January 1, 2028) to evaluate program effectiveness and recommend improvements, and a RAISE Act Accountability and Implementation Board (established by July 1, 2028) to monitor progress and hold hearings for underperforming districts after five years.

• Requires the State Department of Education to develop a unified application system by February 2028 that consolidates all state and federal funding program applications and reporting into a single streamlined application for use beginning with the 2028-2029 school year.