Composite index of local ability to pay; JLARC to study feasibility of adjusting, etc.

Study; JLARC; feasibility of adjusting the compositeindex of local ability to pay and expanding access to the cost ofcompeting adjustment; report. Directs the Joint LegislativeAudit and Review Commission to study the feasibility of adjusting the composite index of local ability to pay and expanding accessto the cost of competing adjustment by (i) reviewing current statutory,constitutional, and budgetary provisions governing the calculationof Standards of Quality costs and funding; (ii) examining the componentsof the composite index of local ability to pay and the cost of competingadjustment; (iii) evaluating other states' public school fundingformulas; and (iv) hearing local concerns and seeking input fromvarious state and national experts, as applicable.