Bipartisan School Finance Act to Make Historic Investment in School Funding Clears Senate
Legislation would increase K-12 public school funding by an average of $545 per student, or $13,600 for a classroom of 25 students
DENVER, CO - The Senate today voted to pass the bipartisan 2022 Public School Finance Act, which sets funding levels of Colorado’s public school districts.
Sponsored by Senator Rachel Zenzinger, D-Arvada, and Senator Paul Lundeen, R-Monument, HB22-1390 increases state funding for public schools by $431 million to $8.4 billion and reduces the Budget Stabilization Factor by more than $180 million.
“Thanks to the hard work we have done on this year’s School Finance Act, the Budget Stabilization Factor will fall to the lowest level since its inception,” said Zenzinger. “I’m proud of the responsible way that we have managed this issue, and I’m proud of the increases we will see to Colorado school districts’ per pupil funding. This year’s School Finance Act makes resources available to teachers and students that they need and deserve.”
The increases in funding for K-12 public schools will result in an increase of $545 per student, or approximately $13,600 for a classroom of 25 students. This funding can be used to reduce class sizes, increase teacher pay, and provide individualized support to help students learn.
The bill makes additional changes to support students and school districts, such as extending the K-5 Social and Emotional Health Pilot Program and the Dyslexia Screening and Intervention Program. It also strengthens the successful Educator Recruitment and Retention grant by encouraging recipients to teach for three years in areas where there are educator shortages.
Additionally, the School Finance Act incorporates the text of HB22-1002, which lifts the current cap on the number of students who can participate in the ASCENT concurrent enrollment program and makes it available to more postsecondary students. This program saves Coloradans money as they pursue their higher education degrees.
HB22-1390 now heads to the House for concurrence of amendments. Track the progress of the bill HERE.