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DENVER, CO — The House Education Committee today passed the 2026 School Finance Act.
“Colorado Democrats are deeply committed to investing in our K-12 public schools to improve outcomes for our students,” said Rep. Emily Sirota, D-Denver. “Colorado’s budgetary shortfall required painful decisions. However, despite nearly universal declining enrollment, the 2026 School Finance Act increases per pupil funding by $440 and ensures no district receives less funding than they did last year. We’ve made substantial progress and have invested record funding in our schools over the last few years. This year’s school finance act protects our investments in K-12 education and keeps the new, student-centered formula in place.”
“As a teacher, I know how important it is for students to have the resources and tools they need for life after the classroom, and I’m proud to help deliver record funding to K-12 education with the 2026 School Finance Act,” said Rep. Meghan Lukens, D-Steamboat Springs. “Even as the state faces budgetary constraints, we protected K-12 education and increased per-pupil funding. While there is still more to do to make Colorado a leader in education, I’m extremely proud of this year’s School Finance Act because we safeguarded the important progress we’ve made investing in our students’ success.”
SB26-023 sets statewide per-pupil funding at $12,316 for fiscal year 2026-2027, an increase of $440 compared to FY 2025-2026 funding levels, bringing total K-12 funding for the upcoming fiscal year to $10.2 billion and increasing total program funding by $194.8 million. The bill passed committee by a unanimous vote.
The 2026 School Finance Act either holds funding flat or increases funding for every district; no school district will receive less funding than they did last year, even with statewide declining student enrollment and a significant state budget deficit.
The General Fund contribution to K-12 education is increasing significantly thanks to the Kids Matter Fund created by Democrats last year, which is forecast to invest more than $216 million in Colorado’s schools next year.
SB26-023 continues on the path established last year that implements the new school finance formula (HB24-1448) at 30 percent with a three-year averaging model to help stabilize school funding in a declining-enrollment environment. This follows requirements in last year’s School Finance Act that phased in the implementation of the new school funding formula at 15 percent per year for six years, and then 10 percent for the final seventh year of implementation.
HB24-1448 created a more student-centered formula designed to drive more resources to rural and underserved districts, as well as students living with a disability, at-risk students and English Language Learners (ELLs).
This year, Democrats also increased funding by $14 million to continue free preschool access for all Colorado kids and increased funding by $38 million to implement the voter-approved Proposition MM to preserve access to free school meals for students.