Periodic revision of Formula.

Except as provided in paragraph (2) of this subsection, the Mayor and Council, in consultation with representatives of DCPS and of the Public Charter Schools, shall review and revise this Formula within 2 years of its establishment, within 2 years after this initial review and revision, and once every 4 years subsequently. Revisions shall be based upon information and data including study of actual costs of education in the District of Columbia, consideration of performance incentives created by the Formula in practice, research in education and education finance, and public comment. Beginning January 30, 2016, the Mayor shall submit to the Council a report every 2 years that reviews the Formula and includes recommendations for revisions to the Formula based upon a study of actual costs of education in the District of Columbia, research in education and education finance, and public comment. The study of actual costs of education pursuant to subsection (a) of this section shall include but not be limited to the following: The relation of funding levels to student outcomes; Maintenance of effort in specified areas of focus to promote continuity of effective practices; Improved techniques for determining specific levels of funding needed to provide adequate special education services; Improved measures of change in the cost of education; and A review of the costs associated with serving at-risk students and of how at-risk students are identified. The Office of the State Superintendent for Education shall be responsible for the development of the report required by subsection (a) of this section and shall convene a working group, which shall be comprised of, at a minimum, representatives from DCPS, public charter schools, and the public, to solicit input and recommendations regarding revisions to the Formula.