(1) The Legislature recognizes the importance of assuring that all persons who graduate from Nebraska high schools possess certain minimum levels of knowledge, skills, and understanding. Each high school student shall complete a minimum of two hundred high school credit hours prior to graduation. At least eighty percent of the minimum credit hours shall be core curriculum courses prescribed by the State Board of Education.

(2) For students attending a public school:

(a) Beginning in school year 2023-24, at least five of the minimum credit hours shall be a high school course in personal finance or financial literacy; and

(b) Beginning in school year 2027-28, at least five of the minimum credit hours shall include computer science and technology education as required under section 79-3304.

(3)(a) Beginning in school year 2024-25, each public high school student shall complete and submit to the United States Department of Education a Free Application for Federal Student Aid prior to graduating from such high school except as otherwise provided in this subsection.

(b) A public high school student shall not be required to comply with subdivision (3)(a) of this section if:

(i) A parent or legal guardian of or a person standing in loco parentis to such student signs and submits the appropriate form prescribed by the Commissioner of Education pursuant to subdivision (3)(c) of this section indicating that such parent, legal guardian, or person standing in loco parentis authorizes such student to decline to complete and submit a Free Application for Federal Student Aid;

(ii) The school principal or the school principal’s designee signs and submits the appropriate form prescribed by the Commissioner of Education pursuant to subdivision (3)(c) of this section authorizing such student to decline to complete and submit a Free Application for Federal Student Aid for good cause as determined by the school principal or the school principal’s designee; or

(iii) A student who is nineteen years of age or older or is an emancipated minor signs and submits the appropriate form prescribed by the Commissioner of Education pursuant to subdivision (3)(c) of this section stating that such student declines to complete and submit a Free Application for Federal Student Aid.

(c) The Commissioner of Education shall prescribe the forms to be used by each public high school for purposes of compliance with subdivision (3)(b) of this section. Such forms shall be made available:

(i) By each public high school to students, parents and legal guardians of students, and persons standing in loco parentis to students; and

(ii) In English, Spanish, and any other language spoken by a majority of the students enrolled in any English learner program at such public high school.

(d) The school principal or the school principal’s designee of each public high school shall provide such compliance information to the school district or governing authority for such public high school and to the State Department of Education without disclosing, for any student who has complied with the requirements of this subsection, personally identifiable information distinguishing whether such compliance was pursuant to subdivision (3)(a) or (b) of this section. Such school principal or school principal’s designee shall provide separately the aggregate number of students who have not complied with this subsection, who complied pursuant to subdivision (3)(a) of this section, and who complied pursuant to subdivision (3)(b) of this section, unless otherwise prohibited by federal or state law regarding the confidentiality of student educational information.

(e) On or before December 31, 2025, and on or before December 31 of each year thereafter, the Commissioner of Education shall electronically submit a report with the information received by the State Department of Education pursuant to subdivision (3)(d) of this section to the Clerk of the Legislature.

(4) The State Board of Education may establish recommended statewide graduation guidelines.

(5) This section does not apply to high school students whose individualized education programs prescribe a different course of instruction.

(6) For purposes of this section, high school means grades nine through twelve and credit hour shall be defined by appropriate rules and regulations of the State Board of Education but shall not be less than the amount of credit given for successful completion of a course which meets at least one period per week for at least one semester.

(7) The State Board of Education shall adopt and promulgate rules and regulations as necessary to implement this section. Such rules and regulations shall include, but not be limited to:

(a) A timeline for the distribution of the Free Application for Federal Student Aid and the forms prescribed pursuant to subdivision (3)(c) of this section by public high schools and for the submission of the Free Application for Federal Student Aid and the forms prescribed pursuant to subdivision (3)(c) of this section;

(b) Standards regarding the information that a public high school must provide to students regarding:

(i) Instructions for filling out the Free Application for Federal Student Aid;

(ii) The options available to a student under subdivision (3)(b) of this section if a student wishes to decline to complete and submit a Free Application for Federal Student Aid; and

(iii) The method by which a student shall provide proof to the public high school that such student has completed and submitted the Free Application for Federal Student Aid or a form prescribed pursuant to subdivision (3)(c) of this section; and

(c) A requirement for each public high school to report the number of students who completed and submitted a Free Application for Federal Student Aid and the number of students who instead submitted a form prescribed pursuant to subdivision (3)(c) of this section.