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Nebraska’s TEEOSA formula reviewed; many allowances, new $1,500 foundation aid addition discussed
Summary
Staff reviewed Nebraska’s Tax Equity and Educational Opportunity Support Act (TEEOSA), a formula that calculates state equalization aid as system formula needs minus formula resources, and highlighted multiple allowances and recent addition of a $1,500 per-student foundation aid component enacted in 2023.
Legislative Research presented Nebraska’s school finance framework, the Tax Equity and Educational Opportunity Support Act (TEEOSA), describing a formula that computes state equalization aid as calculated needs minus calculated resources.
Calculated needs in TEEOSA include a wide range of system formula components: basic funding (computed using a comparison group of similarly sized districts and excluding the two highest and lowest comparison districts), poverty allowances,…
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