Change provisions relating to foundation aid and certification dates under the Tax Equity and Educational Opportunities Support Act

LB 498 updates Nebraska's school funding formula under the Tax Equity and Educational Opportunities Support Act. It changes foundation aid calculations: for school years 2023-24 and 2024-25, aid is $1,500 per formula student, but starting 2025-26, it will increase annually based on the Consumer Price Index. The bill also revises certification deadlines for school funding (moving the key date to March 1 annually) and reduces the portion of foundation aid counted toward school budgets from 100% to 60% for 2025-26 and later. These changes directly affect all Nebraska public school districts receiving state foundation aid.