This bill modifies how compensatory revenue eligibility is calculated for Minnesota schools by including both direct certification and applications for educational benefits. It also changes the percentage of compensatory revenue that must be spent at each school site under certain conditions. Additionally, the bill establishes a Compensatory Revenue Task Force, requires related reports, and appropriates funding for implementation.

Key changes to Minnesota Statutes include: - Eligibility Calculation: Starting October 1, 2024, the number of students eligible for free or reduced-price meals will be determined using both direct certification and educational benefits applications. - Eligibility Reporting: Students identified through either method by December 15 will be counted as eligible for funding purposes retroactively to October 1. - Task Force Creation: Establishes a task force to review and recommend changes to compensatory revenue policies. - Spending Adjustments: Modifies the percentage of compensatory revenue that must be used at each school site under specific conditions.

These amendments aim to improve the accuracy of funding allocations for schools serving economically disadvantaged students.