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This bill deals with how the state guarantees minimum funding levels for school districts' local property tax levies. Under current law, when rising property values trigger an automatic reduction in a school district's certified tax rate, the state protects the district's guaranteed funding from dropping for one year, as long as the district applies the rate reduction evenly across its voted, board, and capital levies. An earlier version of this bill would have extended that protection to five years, but the current substitute instead extends it to two years. The bill also sets up a three-year phase-out schedule for any "excess" state guarantee funding a district receives beyond what its current tax rate would otherwise generate, stepping that extra funding down from 100% in 2026 to 66% in 2027, 33% in 2028, and eliminating it entirely by 2029.