Establishes the Equalization Reserve Account to increase per-pupil funding in non-basic aid school districts.
The bill establishes the Equalization Reserve Account in the General Fund to increase per-pupil funding in non-basic aid school districts. Interest earned on funds in the account is available for appropriation by the Legislature to support these districts. The account aims to close gaps in per-pupil spending among school districts without reducing funding for any district. The account balance is intended to continue growing, with interest deposited back into the account.
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