Enacts the "education funding census update act"

This bill updates the methodology for calculating education funding by replacing outdated references to the 2000 census with current data sources. It revises definitions of "census count" and "poverty rate" to use the most recent federal decennial census data and a three-year average of small area income estimates, rather than relying solely on a single-year census. School districts, particularly those classified as "high-need" based on student poverty levels, will have their state education funding recalculated using these updated metrics. The change ensures funding formulas reflect more current socioeconomic conditions in communities. The bill takes effect April 1 following enactment.