Authorizes the board to deduct certain monthly insurance premiums from benefits payable to members or other beneficiaries. (6/30/20) (EN NO IMPACT APV)
Impact
If enacted, SB5 would dramatically reshape the current funding model by introducing a weighted funding system. This system would allocate more resources to schools based on specific student needs, such as socioeconomic status, language proficiency, and special education requirements. Supporters believe that this shift would enable schools to provide more targeted resources and support, which could lead to improved student performance and better educational outcomes overall.
Summary
Senate Bill 5 (SB5) is aimed at reforming the state's education funding system to improve educational outcomes across various school districts. The bill proposes significant changes to the allocation of state funds, with a focus on providing greater financial support to underperforming and low-income districts. Proponents of SB5 argue that these adjustments will help to close the achievement gap between affluent and less affluent schools, ultimately fostering a more equitable education system.
Sentiment
The sentiment surrounding SB5 appears to be largely favorable among education advocacy groups and those concerned with equity in education. However, there has also been notable skepticism from some lawmakers and taxpayers who are worried about the potential financial implications for the state budget. Critics argue that the bill may lead to increased taxes or reallocation of funds, potentially affecting other vital state services. Despite these concerns, many supporters emphasize that investing in education is crucial for long-term economic growth and social equity.
Contention
A point of contention among legislators discussing SB5 is the balance between funding public schools and the financial sustainability of the state. Some lawmakers express concern that implementing SB5 could lead to significant increases in state spending, which may not be feasible given current budgetary constraints. Others counter that without sufficient investment in education, the state risks falling behind in educational standards and economic competitiveness, thus sparking intense debates on the best approach to education funding reform.
Relative to the La. State Employees' Retirement System (LASERS), allows benefits payable to children beneficiaries of deceased retirees to be paid to a trust (EN NO IMPACT)
Provides for the benefit payable to retired member of the Municipal Employees' Retirement System of Louisiana upon death of beneficiary (EN NO IMPACT APV)