S1327 Summary

• Establishes a new public school funding formula for fiscal years 2022 through 2027 that replaces support units and average daily attendance calculations with student enrollment counts, dividing total state funds by total student enrollment to determine per-student distribution amounts.

• Eliminates salary-based apportionment funding (sections 33-1004 through 33-1004F) during the 2022-2027 period while maintaining funding for special programs including transportation, technology, charter schools, and advanced opportunities.

• Specifies state payment schedules to school districts in six installments (August through June) with August at 30%, October and December at 20% each, and February and April at 15% each, based on student enrollment counts.

• Creates student success incentive grants for school districts and charter schools based on student outcomes including higher education enrollment, occupational certification, military service, and graduation of economically disadvantaged, English language learner, at-risk, and special education students.

• Requires the state board of education to establish performance criteria for grades 3 and 8 students to receive incentive grants, with legislative approval by concurrent resolution, and mandates a comprehensive review of the public school funding formula by July 1, 2024.