HB0316

Official summary

Bill Summary - 25LSO-0674 Bill No.: HB0316 Effective: Immediately LSO No.: 25LSO-0674 Enrolled Act No.: HEA No. 0068 Chapter No.: 140 Prime Sponsor: Management Council Catch Title: School finance-model recalibration-2. Has Report: Yes Subject: Creation of a Select Committee and appropriations/spending authority for K-12 school finance. Summary/Major Elements: T his bill establishes the Select Committee on School Finance Recalibration (Select Committee), comprised of six (6) members from the Senate and six (6) members from the House of Representatives, including at least one (1) member from each minority party, to be appointed by the President and the Speaker, respectively, not later than March 31, 2025. The Select Committee is tasked with studying and recalibrating the education resource block grant model. The Select Committee is required to report its findings and any proposed legislation to the Legislature. This bill appropriates nine hundred twenty thousand dollars ($920,000.00) from the general fund to the Legislative Service Office for the purpose of funding the recalibration effort and providing salary, mileage, and per diem to members of the Select Committee. This bill appropriates fifty‑two million three hundred thousand dollars ($52,300,000.00) from the public school foundation program account (SFP) to the Department of Education-school finance for an external cost adjustment to the education resource block grant model. The total external cost adjustment to the education resource block grant model for school year 2025-2026 is sixty‑six million three hundred thousand dollars ($66,300,000.00), of which, an estimated fourteen million dollars ($14,000,000.00) is from reduced school district recapture payments. This bill appropriates sixty‑nine million two hundred thousand dollars ($69,200,000.00) to the Department of Education-school finance to increase the State Superintendent of Public Instruction's budget authority for school district entitlement payments and special education reimbursements for school year 2025-2026. This bill appropriates eighty‑four million four hundred thousand dollars ($84,400,000.00) to the Department of Education-school finance, which is effective because 2025 Senate File 0069 was enacted into law, to provide the State Superintendent of Public Instruction necessary budget authority to account for increased entitlement payments as a result of reduced property tax revenue from school district local thirty‑one (31) mill levies in school year 2025-2026. Comments: Creates the Select Committee on School Finance Recalibration. Requires the President of the Senate and Speaker of the House to appoint Select Committee members. Requires the Select Committee to report its findings to the Legislature. Appropriates nine hundred twenty thousand dollars ($920,000.00) to the LSO. Appropriates two hundred five million nine hundred thousand dollars ($205,900,000.00) to the Department of Education-school finance. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.