ID S1147

Adds new definition of "outcomes-based funding" to Idaho education code, meaning funding distributed to local education agencies based on mathematics proficiency and growth in grades 5-8, and attainment of workforce/postsecondary credentials in grades 9-12

Allocates outcomes-based funding with 60% for math outcomes (grades 5-8 based on growth and proficiency on statewide standardized math assessments) and 40% for secondary outcomes (grades 9-12 based on graduation rate improvements and credential attainment including postsecondary degrees, CTE diplomas, dual credit completion, AP exam scores, apprenticeships, and industry certificates)

Establishes minimum funding floors of $10,000 for schools serving grades 5-8 and $6,000 for schools serving grades 9-12, with economically disadvantaged students counted at 1.75 times for distribution calculations

Requires the State Department of Education to compile annual performance data and mandates a legislative policy review during the 2030 session with recommendations to the appropriations committee, followed by reviews every 5 years

Declares an emergency effective date of July 1, 2025, and updates code references throughout multiple education statutes to accommodate the new definition numbering