JACKSON, Miss. (WJTV) – Mississippi lawmakers settled two of the most contentious issues of the entire Legislative Session on Saturday, April 27.

A brand new public education funding formula is on its way to Governor Tate Reeves’ (R-Miss.) desk.

The Mississippi Student Funding Formula would replace the long-standing Mississippi Adequate Education Program (MAEP), if signed into law. It’s estimated to bring in $220 million more into Mississippi’s public schools.

The first version of this MAEP rewrite, known as the INSPIRE Act, passed the House overwhelmingly but was largely dismissed in the Senate.

This compromise has left lawmakers hopeful for the future of school funding.

“The last four months was really intensive in terms of trying to get us to a place where the House and the Senate felt like we were doing the right thing for education. When it was all said and done, it was it’s been just a brilliant compromise. Every superintendent I’ve heard of and heard from has really been excited about the potential this has. Make it easier. Make it a place that our superintendents can actually know what they’re going to get from year to year. So, from the sense that MAEP was a good product for the time period that it was there, I’ve not met very many people that really knew how to explain it. This is something that they’re going to be able to understand and explain,” said Rep. Rob Roberson (R-District 43).

The new funding formula utilizes an objective mechanism to determine funding and offers more money to school districts that have special needs, impoverished, and non-English speaking students.

Mississippi lawmakers also reached a deal on the Public Employees’ Retirement System (PERS).

The bill, awaiting Reeves’ signature, strips power away from the PERS Board, mandating an contribution increase come in the form of a recommendation to the Legislature. No current members’ benefits will be impacted, according to the bill.

“Since the beginning of this Legislative Session, the House has remained adamant and determined to prioritize education funding, PERS, and access to quality healthcare in Mississippi. It is a great honor to see meaningful progress in two of our priorities, and we hope to find a compromise on the third in the coming days,” said House Speaker Jason White (R-District 48).