Creates the education funding task force to continue the work of the governor's informal work group to review the data and analysis provided by the consultant mentioned below and make recommendations to the legislature on implementing the program of basic education.

Requires the state institute for public policy, in consultation with the education funding task force, to contract for independent professional consulting services to: (1) Collect K-12 public school staff total compensation data;

(2) Identify market rate salaries that are comparable to each of the staff types in the prototypical school funding model; and

(3) Provide analysis regarding whether a local labor market adjustment formula should be implemented and if so which market adjustment factors and methods should be used.

Requires the superintendent of public instruction to collect, and school districts and other applicable local education agencies to provide, compensation data necessary to implement this act with sufficient time for the consultant to accomplish the required work.

Requires that legislative action be taken by the end of the 2017 session to eliminate school district dependency on local levies for implementation of the state's program of basic education.

Makes appropriations.

Expires June 30, 2017.