Bill to Boost Funding for K-12 Schools Passes House

DENVER, CO — The House today passed legislation to refer a measure to the November ballot that would allow school funding to grow with the economy, rather than be restrained by the TABOR cap. SB26-135 passed by a vote of 42-21.  

“For years, our schools and teachers have been asked to do more with less. And with this bill, teachers will soon be able to ask voters a simple question: should school funding grow alongside Colorado’s economy or continue to be constrained by the TABOR cap,” said Assistant Majority Leader Jennifer Bacon, D-Denver. “Colorado Democrats have worked tirelessly to increase funding to our K-12 schools, but TABOR forces us to ration spending on core priorities. This bill allows Coloradans to weigh in and decide if they want to drive more funding to their local schools.” 

“As a teacher, I have seen kids who have deserved more than we are able to give them financially, and many teachers are leaving the profession altogether,” said Rep. Meghan Lukens, D-Steamboat Springs. “We’re asking voters if they’d like to increase K-12 funding by allowing it to keep pace with Colorado’s strong economic growth. When we adequately fund our public schools, students can reach their full potential. I’m proud to carry this teacher-backed measure to boost funding for every school district in the state.”

SB26-135 would refer a statewide measure to the November 2026 ballot that would free up state funds to boost investment in K-12 schools. Increased investment would mean more educators in classrooms, smaller class sizes and stronger special education services. 

The measure would ask voters to allow the state to retain and spend revenue that it already collects in an amount equal to state K-12 funding, providing stable, predictable funding to keep pace with population growth and student needs. The retained revenue would go entirely toward K-12 education and services for children. Additionally, it would require a public audit and report detailing how much excess revenue was retained and how it was spent. 

Colorado has chronically underfunded K-12 public schools. The state ranks 40th in teacher pay and retention, and underfunds every student by about $4,600 per year – a total shortfall of nearly $4 billion. Currently, K-12 funding makes up roughly a third of the state’s total budget. 

If voters approve, it would allow Colorado to retain revenue above the current TABOR cap to drive more funding to K-12 schools. TABOR threatens the progress Colorado Democrats have made to increase funding for K-12 education. Colorado’s current budget model is inadequate to meet the state’s educational goals.