Relating to school district funding provisions, including reducing the foundation property tax and repealing the education savings account program, and including effective date and applicability provisions

This bill relates to school district funding, including reducing the foundation property tax and repealing the education savings account program. DIVISION I.40 per $1,000 of assessed valuation on all taxable property in the district.04.40 levy rate under current law is for recently reorganized and dissolved school districts.40. The bill reduces all of the applicable foundation property tax rates to correspond with the reduction in the foundation property tax.3 in the bill. Division I takes effect upon enactment. 3 apply July 1, 2026, for school budget years beginning on or after that date. DIVISION II. The education savings account program is a program that provides funds to pupils who attend nonpublic schools to pay for qualified educational expenses including but not limited to tuition, tutoring or cognitive skill training fees, educational therapy costs, software expenses, and expenses related to course materials. For school years beginning on or after July 1, 2025, each student eligible to enroll in kindergarten through grade 12 is eligible for the education savings account program. Division II repeals the education savings account program and makes conforming changes. Division II takes effect upon enactment and applies July 1, 2026, for school budget years beginning on or after that date.