S.F. 393 Section 1. SCHOOL FINANCE FORMULA REVIEW 1 COMMITTEE. Legislative review of the school finance 2 formula under section 257.1, subsection 4, is required to occur 3 at least every five years. The review last occurred during 4 the 2019 legislative interim and the next review must occur 5 during or before the 2024 legislative interim. In order to 6 review and address the disparities between rural and urban 7 school districts, the availability of on-time funding for 8 school districts, and the difficulties facing school districts 9 following the COVID-19 pandemic, the legislative council is 10 requested to approve the meeting of the school finance formula 11 review committee during the 2023 legislative interim. 12 EXPLANATION 13 The inclusion of this explanation does not constitute agreement with 14 the explanation’s substance by the members of the general assembly. 15 Legislative review of the school finance formula under Code 16 section 257.1(4) is required to occur at least every five 17 years. The review last occurred during the 2019 legislative 18 interim and the next review must occur during or before the 19 2024 legislative interim. In order to review and address the 20 disparities between rural and urban school districts, the 21 availability of on-time funding for school districts, and the 22 difficulties facing school districts following the COVID-19 23 pandemic, this bill requests the legislative council to approve 24 the meeting of the school finance formula review committee 25 during the 2023 legislative interim. 26 -1- LSB 2271XS (2) 90 md/jh 1/ 1