AL HB558

Establishes the Renewing Alabama's Investment in Student Excellence (RAISE) Fund to provide additional state funding to public K-12 schools beginning with the 2025-2026 school year, contingent on legislative appropriation.

Allocates weighted funding percentages to schools based on student populations including poverty (up to 20%), special education tiered at 25-150%, English Language Learners (up to 15%), gifted students (up to 5%), and charter schools (up to 10%).

Requires local education agencies to submit annual accountability reports with student achievement goals aligned to state standards and track outcomes for funded student groups through Education Report Cards.

Creates the RAISE Act Review Committee (by January 1, 2028) to assess program effectiveness and the RAISE Act Accountability and Implementation Board (by July 1, 2028) to monitor progress and hold hearings for LEAs not meeting five-year achievement goals.

Directs the State Department of Education to develop a unified application system by February 2028 that consolidates all state and federal education funding programs into a single application, eliminating duplicate reporting requirements.