OK SB240

Delays implementation of new State Aid calculation methodology from 2022-2023 school year to 2026-2027 school year.

Increases the percentage of total school funding that State Department of Education must retain for midyear adjustments from 1.5% to 4%.

Modifies Foundation Program Income calculation to use actual ad valorem tax collections received rather than assessed valuation multiplied by mills levied.

Changes Salary Incentive Aid calculation methodology to subtract actual levy amounts above 15 mills instead of using assessed valuation divided by 1,000.

Removes requirements for Oklahoma Tax Commission and county treasurers to report certain ad valorem tax protest amounts and county levy apportionment data to State Department of Education.