Sections 79-2401 to 79-2405 shall be known and may be cited as the Superintendent Pay Transparency Act.

(1) Before the school board of any school district or the board of any educational service unit approves a proposed contract, or any proposed amendment to an existing contract, for future superintendent services to be rendered to such school district by the current superintendent or future administrator services to be rendered to such educational service unit by the current administrator, the board shall publish a copy of such proposed contract or amendment, and a reasonable estimate and description of all current and future costs to the school district or educational service unit if the proposed contract or amendment were to be approved, at least three days before the meeting of the board at which such proposed contract or amendment will be considered. Such publication shall also specify the date, time, and place of the public meeting at which the proposed contract or amendment will be considered. Electronic publication on the website of the school district or educational service unit shall satisfy the requirement of this subsection if such electronic publication is prominently displayed and allows public access to the entire proposed contract or amendment.

(2) After the school board of any school district or the board of any educational service unit approves a contract for future superintendent services to be rendered to such school district by a new superintendent or future administrator services to be rendered to such educational service unit by a new administrator, the board shall publish a copy of such contract, and a reasonable estimate and description of all current and future costs to the school district or educational service unit that will be incurred as a result of such contract, within two days after the meeting of the board at which such contract was approved. Electronic publication on the website of the school district or educational service unit shall satisfy the requirement of this subsection if such electronic publication is prominently displayed and allows public access to the entire contract.

After approval of a contract, or any amendments thereto, for superintendent services or educational service unit administrator services, the approving board shall file a copy of such contract or amendment with the State Department of Education on or before the next succeeding August 1. The department shall have no duty to review such contracts or amendments but shall publicly post all such contracts or amendments received on the website of the department.

If the school board of any school district or the board of any educational service unit fails to timely file a copy of an approved contract, or contract amendment, for superintendent services or educational service unit administrator services with the State Department of Education as required in section 79-2403, the Commissioner of Education, after notice to the board president and either the superintendent or educational service unit administrator and an opportunity to be heard, shall direct that any state aid granted pursuant to the Tax Equity and Educational Opportunities Support Act to the school district or core services and technology infrastructure funds granted pursuant to section 79-1241.03 to the educational service unit be withheld until such time as the contract or amendment is received by the department. In addition, the commissioner shall direct each county treasurer of a county with territory in the school district or educational service unit to withhold all money belonging to the school district or educational service unit until such time as the commissioner notifies such county treasurer of receipt of such contract or amendment. Each such county treasurer shall withhold such money. For school districts that are members of learning communities, a determination of school money belonging to the school district shall be based on the proportionate share of property tax receipts allocated to the school district pursuant to section 79-1073 in addition to the other property tax receipts belonging to the school district. If the board does not comply with this section prior to October 1 following the school fiscal year for which the state aid or core services and technology infrastructure funding was calculated, the funds shall revert to the General Fund. The amount of any reverted funds shall be included in data provided to the Governor, the Appropriations Committee of the Legislature, and the Education Committee of the Legislature in accordance with section 79-1031.

All amendments to a contract for superintendent services or educational service unit administrator services shall be subject to the Superintendent Pay Transparency Act, including, but not limited to, amendments involving salary increases or benefit changes.