AN ACT RELATING TO EDUCATION -- THE EDUCATION EQUITY AND PROPERTY TAX RELIEF ACT

HB 5749, "The Education Equity and Property Tax Relief Act," amends the method for determining the state's share of education funding for local school districts. The bill updates the formula used to calculate a district's state aid, considering its revenue-generating capacity and the concentration of high-need students, including those in charter and state schools. It also increases the support available to districts through a poverty loss stabilization fund. Specifically, if a district's state share of aid declines significantly, the amount received from this fund would increase from 50% to 75% of the difference. These changes aim to adjust how state education funding is allocated to districts.