AR HB1614

Creates a Teacher Salary Equalization Fund to provide additional funding to school districts with average annual teacher salaries below the statewide target average annual salary, beginning with the 2021-2022 school year.

Sets the statewide target average annual teacher salary at $51,822 for the 2021-2022 and 2022-2023 school years, with the House and Senate Education Committees to jointly set targets for subsequent bienniums.

Provides equalization funding equal to $185 multiplied by the school district's average daily membership for the previous school year.

Declares the bill an emergency to take effect immediately upon approval, allowing implementation for the 2021-2022 school year, citing teacher shortage and salaries as key factors for teacher recruitment and retention.

Requires equalization funds be expended only for teacher salaries and benefits, and prohibits districts receiving funds from the Educator Compensation Reform Fund from receiving equalization funds in the same year.