HB 4130 Summary

• Replaces the Mississippi Adequate Education Program (MAEP) with a new "Mississippi Student Funding Formula" effective fiscal year 2025, establishing a base student cost of $6,695.34 per student for FY 2025 with annual adjustments for inflation.

• Creates weighted funding adjustments for students with additional educational needs: low-income students (0.30), English language learners (0.15), special education students (0.60-1.30 depending on disability tier), gifted students (0.05), career and technical education students (0.10), and sparsely populated districts (variable weight).

• Requires local school districts and charter schools to contribute a minimum of 28 mills or 27% of total funding formula costs, whichever is less, with the state covering the remaining share guaranteed not to fall below FY 2024 state funding levels through FY 2027.

• Changes enrollment measurement from "average daily attendance" to "net enrollment" calculated as the average enrollment for months two and three of the preceding school year, with adjustments for dual enrollment and charter school students.

• Repeals the existing MAEP law and related provisions, eliminates the Educational Facilities Revolving Loan Fund, and makes conforming amendments across 84 Mississippi Code sections referencing the prior funding system.