Bill > SB287

This bill appropriates funds for public school finance in Colorado for the 2023-2024 fiscal year, with some provisions extending to future years. * **Total Program Funding:** The bill ensures that the total program funding for all school districts and institute charter schools, after applying the budget stabilization factor, will not be less than $9,101,600,922 for the 2023-2024 budget year. For the 2024-2025 budget year and beyond, the budget stabilization factor will no longer be applied. * **Rural School Funding:** An appropriation of $30 million from the State Education Fund is allocated for additional funding for large and small rural districts, and eligible institute charter schools, for non-recurring expenses related to improving student learning and the educational environment. This funding is available for the 2023-2024 budget year and is repealed effective July 1, 2025. * **At-Risk Funding:** For the 2023-2024 budget year, a district's at-risk funding will be the greater of its funding amount for the 2022-2023 or 2023-2024 budget year. Any additional amount owed due to this provision will be paid after mid-year revisions. This provision is repealed effective July 1, 2025. * **Mill Levy Override Match Fund:** $23,376,536 is transferred from the State Education Fund to the Mill Levy Override Match Fund for the 2023-2024 budget year. * **American Indian Mascot Reimbursement:** $300,000 is appropriated from the State Education Fund for the 2023-2024 budget year to reimburse public schools for expenses incurred to comply with the prohibition on American Indian mascots. Unexpended funds may be used through the 2024-2025 budget year. * **Preschool Provider Funding:** $10 million is appropriated from the State Education Fund for the 2023-2024 budget year to provide funding to eligible preschool providers that are schools of school districts, district charter schools, or institute charter schools. This funding is intended to ensure administrative units can meet federal maintenance of effort requirements for children with disabilities. This provision is repealed effective July 1, 2024. * **Gifted Education:** Beginning in the 2023-2024 budget year, funds will be appropriated from the State Education Fund to provide full universal screening for gifted children by the 2027-2028 budget year. * **Charter School Institute Mill Levy Equalization:** $2,500,000 is appropriated from the General Fund to the Mill Levy Equalization Fund for the 2023-2024 state fiscal year, with an additional $2,500,000 reappropriated from that fund to the Department of Education for charter school institute mill levy equalization. Beginning in the 2024-2025 budget year, the General Assembly will appropriate funds from the General Fund for full mill levy equalization for all institute charter schools. * **State Aid for Charter School Facilities:** $10,000,000 is appropriated from the State Education Fund for the 2023-2024 state fiscal year for state aid for charter school facilities. * **Special Education Programs:** $500,000 is appropriated from the State Education Fund for the 2023-2024 state fiscal year for special education programs for children with disabilities. * **Public School Finance Administration:** $408,625 is appropriated from the State Education Fund for administration related to public school finance, assuming an additional 0.7 FTE. * **Teacher Recruitment Education and Preparation (TREP) Program:** Up to $2,396,500 of the appropriation for the state share of districts' total program funding is authorized for the TREP Program for FY 2023-24.