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PUEBLO, CO - Representatives Tisha Mauro and Matthew Martinez yesterday hosted a town hall with Pueblo school district officials on new laws that will increase K-12 public education funding for Pueblo schools and make college free for the first two years for families making under $90,000 per year.
“This 2024 legislative session was monumental for Colorado students, educators, and schools as we eliminated the budget stabilization factor and increased public school funding for communities like Pueblo,” said Rep. Tisha Mauro, D-Pueblo. “Our new laws will help increase teacher pay in Pueblo, reduce the cost of higher education for families, and help every student have the resources in the classroom they need to thrive. I am proud of the work we accomplished this session for our students, and it was a pleasure to highlight these efforts alongside school officials and answer questions from community members.”
“As an educator, I have experienced firsthand how the lack of funding in a classroom can impact students’ education, which is why I am so proud that we delivered historic wins for Colorado schools and students this session,” said Rep. Matthew Martinez, D-Monte Vista. “The new, student-focused school finance formula and increased state support for K-12 education will mean that schools in the San Luis Valley, Pueblo, and Southern Colorado will have the resources they need to set up our students for success. I’m excited for Southern Colorado students and schools to finally receive the funding they deserve.”
HB24-1448 significantly updated Colorado’s school finance formula for the first time in 30 years. It directs more funding to districts that serve higher numbers of low-income students, English Language Learners, at-risk, and special education students.
The new formula will increase funding for Pueblo School District 70 by almost $1.5 million more per year, or $9 million after the program is fully implemented in six years. Pueblo School District 60 will receive $900,000 more per year, or $6 million more after implementation.
SB24-188 increases total funding for public schools by more than $500 million to 9.7 billion and completely buys down the Budget Stabilization Factor, a longstanding goal that helps ensure Colorado students get the quality education they deserve.
HB24-1340 supports two years of in-state college for students in families earning less than $90,000, making higher education more attainable for families. This law creates a refundable state income tax credit for Colorado students in their first two years of attendance (based on credit hours accumulated) at any public Colorado institution of higher education. The credit provides reimbursement for the full amount of tuition and fees paid after accounting for any scholarships or grants the student received. The credit can be claimed by a parent or other taxpayer if the student is their dependent, and is available for the 2024-25 school year through 2031-32.