2024 School Finance Act to Pay Off B.S. Factor, Fully Fund Colorado Public Schools Clears Senate

School Finance Act will increase per-pupil funding by $420

DENVER, CO – The 2024 School Finance Act, which sets funding levels for Colorado’s public school districts, earned approval before the Senate today.

Sponsored by Senators Rachel Zenzinger, D-Arvada, and Janet Buckner, D-Aurora, SB24-188 would raise the base level of per-pupil funding by $420 to $8,496, and completely buy down the Budget Stabilization Factor, a longstanding goal that will ensure Colorado students get the quality education they deserve.

"Fully funding our schools is one of the main reasons I ran for the state senate, and I am absolutely thrilled to finally pass the School Finance Act that will make it happen,” Zenzinger said. “All our students deserve a quality education that meets their needs and prepares them for success. While we have much more to do to truly fully fund our schools, this bill represents a great start, and will help reduce class sizes, increase teacher pay, and provide a world class education for our children and youth."

“As Chair of the Senate Education Committee and a former educator, ensuring our schools and students have the resources they need is personal to me, and this year’s School Finance Act will do just that,” said Buckner. “By eliminating the Budget Stabilization Factor and fully funding K-12 education, we’re opening the door to so many more opportunities to improve our schools, support our teachers, and make Colorado the best state in the nation to learn and grow.”

SB24-188 will now move to further consideration before the House. Track the bill’s progress HERE.