An act relating to payments to the teachers’ retirement system

This bill requires independent schools in Vermont to pay their teachers' retirement contributions and administrative expenses directly, rather than having these costs covered by the state education budget. It also clarifies that "education spending" includes the portion of retirement payments attributable to school districts, while excluding funds from other sources like endowments or federal grants. The changes take effect on July 1, 2024, and include requirements for independent schools to submit annual payment statements and for the state to report on implementation to relevant committees.