The bi-partisan panel of lawmakers and policy advisers met for the first time Wednesday, Aug. 3. The 25 member panel was appointed after the spring legislative session ended.

Critics of the current funding formula say it shortchanges districts with higher populations of poor children. And it doesn’t do enough to compensate the districts that can’t rely on property taxes. The commission says it wants to have a revamped formula in place by February 1, 2017.