79-10,147.02.

School Financing Review Commission; duties.

(1)(a) The purpose of the School Financing Review Commission is to study and provide advisory recommendations relating to school funding in Nebraska. The commission shall:

(i) Evaluate the school funding formula for education under the Tax Equity and Educational Opportunities Support Act and make recommendations for adjustments or changes to such formula that may be necessary to help prevent the increase of property taxes;

(ii) Regularly review the resources side of the formula under the Tax Equity and Educational Opportunities Support Act;

(iii) Regularly review the needs side of the formula under the Tax Equity and Educational Opportunities Support Act;

(iv) Analyze options for how to minimize the negative impact on schools during times when the state may be unable to fully fund the formula under the Tax Equity and Educational Opportunities Support Act;

(v) Analyze the impact of funding for education on student achievement and outcomes, focusing on, but not limited to: Access to early childhood education; student attendance; literacy; graduation rate; college-going rate; and postsecondary workforce participation; and

(vi) Analyze the impact of funding for education on issues and resources impacting students with relatively high needs, including, but not limited to, students who live in areas of high concentrations of poverty, students with an individualized education program, and students with limited English proficiency.

(b) The School Financing Review Commission, to the extent it is practical, shall compare findings from subdivision (1)(a) of this section to similar policies from other states.

(2) By December 1, 2025, and by November 1 of each year thereafter, the commission shall prepare and electronically deliver to the Clerk of the Legislature an annual report with the observations and recommendations developed pursuant to subsection (1) of this section.