Requires a financial plan to adequately and amply fund basic education while modifying nonbasic education funding mandates.

Creates the basic education funding joint legislative work group to: (1) Consider the information available to date regarding the priority order of phased-in funding enhancements;

(2) Review the phase-in schedule in light of any newly available research-based evidence; and

(3) Develop a long-term financial plan that phases in enhancements and matches the expenditure plan with options for existing or additional state revenue that may include shifting a portion of school district excess levy authority to state property tax levy.