According to TASB, Senate Bill 4 would fund full-day prekindergarten for educationally disadvantaged students, provide funding for merit pay for teachers, increases funding for low-income students, and provides support for districts to improve reading among educationally disadvantaged students and English language learners up to grade 3. A number of details still need to be worked out in the bill.
The text of Senate Bill 4 can be found here.
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