HB 5314 Summary

• Appropriates $11.2 billion from the state school aid fund and $264.9 million from other sources for fiscal year 2014-2015 to support public K-12 schools, intermediate districts, and public universities.

• Establishes a foundation allowance of $8,099.00 per pupil for 2014-2015, with a minimum of $7,126.00, and allocates special education funding at 28.6138% of total approved costs.

• Appropriates $364.7 million for community colleges and $1.52 billion for higher education, including operations funding for all 15 public universities and various student financial aid programs.

• Implements Michigan public school employees' retirement system (MPSERS) contributions totaling approximately $674.7 million and creates new assessment and reporting systems including online course catalogs and P-20 longitudinal data tracking.

• Establishes performance-based funding tied to tuition restraint, transfer agreements, and best practices for schools and universities, with requirements for budget transparency and public reporting.