Bill > SB113

This bill addresses mid-year adjustments to school funding for the 2024-25 budget year by making several key changes. The bill finds that the actual funded pupil count is higher than initially anticipated, resulting in total program funding being $38,467,082 more than expected, while local property tax and specific ownership tax revenues are $25,609,529 lower than projected. As a result, the state intends to increase its share of districts' total program funding by $64,076,611. The legislation specifically updates the total program funding amount for school districts from $9,735,767,429 to $9,773,152,749, a difference of about $37.4 million. The bill also makes technical amendments to various funding-related statutes, including adjustments to the total program reserve fund and appropriations to the Department of Education. Additionally, it modifies funding allocations for specific educational programs, such as reducing the estimated number of TREP (Teacher Recruitment Education and Preparation) program participants from 250 to 210 and adjusting the corresponding funding. The changes aim to align the state's school funding with actual enrollment and revenue figures for the upcoming budget year.

Budget and Finance

https://leg.colorado.gov/bills/sb25-113