A bill for an act relating to public school funding by establishing the state percent of growth and the categorical state percent of growth for the budget year beginning July 1, 2025, modifying provisions relating to the property tax replacement payments and transportation equity payments, modifying provisions relating to the regular program state cost per pupil and funding for shared operational functions, establishing a school district funding supplement, making appropriations, and including effective date provisions.

This bill establishes specific annual funding growth rates for Iowa public schools starting in 2025, setting a 2.25% "state percent of growth" and a similar "categorical state percent of growth" for state funding. It modifies how school districts receive property tax replacement payments and transportation equity aid, calculating these payments based on each district's student enrollment and state cost-per-pupil formulas. The bill also creates a new school district funding supplement and includes required state appropriations for the 2025 budget year. These changes directly affect all Iowa public school districts by determining their annual state funding levels.