HB24-1448: New Public School Finance Formula
HB24-1448: New Public School Finance Formula aims to streamline funding for public educatinon, provide more financial support for school construction, and enhance funding allocation methods.
What would the bill do?
This bill changes how funding for public education is calculated. It introduces a new formula for determining funding amounts, which takes into account factors like the number of students, special needs, and English language learners. Starting in 2030, this new formula will be used exclusively.
Before 2030, both the new formula and the old one will be used to calculate funding, with a transition period where the new formula gradually takes over. Additionally, the bill requires studies on how to improve student funding and enrollment counting methods.
There are also changes to how interest and income from the permanent school fund are allocated, with more going towards school construction assistance. Money from certain public school lands resources will also be directed to the assistance fund.
What economic and social mobility metrics does this bill impact?
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