School funding; modifying calculation of State Aid; increasing percentage of certain funds to be retained. Effective date.

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Plain-English Summary

This bill changes how Oklahoma calculates state funding for public schools, starting in the 2026-2027 school year. It modifies how Foundation Aid and Salary Incentive Aid are determined, including changing the calculation of Foundation Program Income and increasing the percentage of funds the State Department of Education retains for midyear adjustments. The bill also removes requirements for the State Department of Education to develop a student identification system and for reporting certain tax information.

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