(1) The quality goals for the state’s system of kindergarten through grade 12 public education include those established under ORS 329.007, 329.015, 329.025, 329.045 and 329.065.
(2) Each biennium the Quality Education Commission shall determine the amount of moneys sufficient to ensure that the state’s system of kindergarten through grade 12 public education meets the quality goals.
(3) In determining the amount of moneys sufficient to meet the quality goals, the commission shall identify best practices that lead to high student performance and the costs of implementing those best practices in the state’s kindergarten through grade 12 public schools. Those best practices shall be based on research, data, professional judgment and public values.
(4) Prior to August 1 of each even-numbered year, the commission shall issue a report to the Governor and the Legislative Assembly that identifies:
(a) Current practices in the state’s system of kindergarten through grade 12 public education, the costs of continuing those practices and the expected student performance under those practices; and
(b) The best practices for meeting the quality goals, the costs of implementing the best practices and the expected student performance under the best practices.
(5) In addition, the commission shall provide in the report issued under subsection (4) of this section at least two alternatives for meeting the quality goals. The alternatives may use different approaches for meeting the quality goals or use a phased implementation of best practices for meeting the quality goals.