Relates to the regional cost index for purposes of the calculation of total foundation aid; updates the regional cost index to better reflect the differences in cost of living across the state.
Relates to increasing the earnings limitation for positions of public service; increases the earnings limitation from $35,000 to $50,000 in 2025 and thereafter.
Amends the Education Equity and Property Tax Relief Act to set the regionalization bonus at 2% of the state's share of foundation education aid for the fiscal year starting July 1, 2025, and for each year thereafter.
Relates to increasing the earnings limitation for positions of public service; increases the earnings limitation from $35,000 to $50,000 in 2025 and thereafter.