SD HB1290

Removes the requirement that began July 1, 2017 to automatically include certain apportioned revenues (from sources like bank franchise tax, wind energy tax, telecommunications gross receipts tax, and others) that exceed the "other revenue base amount" in calculating a district's local effort for state aid purposes

Removes the requirement that the overhead rate (38.78%) be adjusted to account for amounts districts exceed the other revenue base amount, effective since school fiscal year 2018

Creates a new section allowing school district boards to opt out by resolution (filed by July 1 annually) from including amounts exceeding the other revenue base when calculating both overhead rate and local effort

Districts that elect to exclude these excess revenues from local effort calculations are prohibited from transferring any money from their capital outlay fund to their general fund

Sets the target teacher salary at $62,821.19 for the school fiscal year beginning July 1, 2025, with subsequent years adjusted by the index factor (consumer price index change or 3%, whichever is less)