STATE FUNDING OF ELEMENTARY AND SECONDARY EDUCATION - INITIATIVE CONSTITUTIONAL AMENDMENT. Requires full state funding by July 1, 1980 to provide equal educational opportunity for all students in grades kindergarten through twelve enrolled in accredited public or private schools of parents\u27 choice. Provides for academic accreditation by commission established by Legislature. Schools so funded must admit students without regard to race, color, nationality, place of origin, or sex, with stated exception. Prohibits sectarian instruction in public but not in private schools. Prohibits use of public funds to support schools not under exclusive control of public school officials, unless specified conditions are met. Financial impact: If this i...