Change provisions relating to local system formula resources under the Tax Equity and Educational Opportunities Support Act

This bill proposes changes to how Nebraska calculates local system formula resources for school funding under the Tax Equity and Educational Opportunities Support Act. It establishes a specific method for determining local effort rates for school fiscal years 2024-25 and 2025-26, while also updating the list of financial factors considered when calculating state aid for years 2023-24 through 2025-25. The legislation includes a provision that allows the Legislature to determine the calculation method for school fiscal year 2025-26 and all subsequent years, replacing the previous fixed rules. Although the bill outlines these specific policy adjustments, it was indefinitely postponed and did not become law.