April 26, 2022

SCHOOL FINANCE ACT MOVES FORWARD

DENVER, CO – The House advanced the 2022 School Finance Act today on a preliminary vote. This bill increases K-12 public school funding by an average of $545 per pupil.


“The 2022 School Finance Act is a record investment in our public schools to improve educational outcomes for students,” said Rep. Julie McCluskie, D-Dillon. “This bill increases funding for K-12 schools so our districts can maintain small class sizes, boost teacher pay and make sure classrooms have the resources they need to create a high-quality public education program.”

“Colorado is investing in teachers, students and K-12 public schools,” said Rep. Barbara McLachlan, D-Durango. “This year’s school finance act will increase per pupil funding by an average of $545 and this funding can be used to reduce classroom sizes and increase teacher pay. Investing in our schools better prepares Colorado’s next generation of leaders, thinkers and learners.”

HB22-1390, sponsored by Representatives Julie McCluskie and Barbara McLachlan, sets funding levels for Colorado’s public school districts. This year, the bill increases total funding for public schools by $431 million to $8.4 billion and reduces the Budget Stabilization Factor by over $180 million to the lowest level since it was created.

The increases in funding for K-12 public schools will result in an increase of $545 per student. This funding can be used to reduce class sizes, increase teacher pay and provide individualized support to help students learn.

The School Finance Act was amended to incorporate the text of HB22-1002, which lifts the current cap on the number of students who can participate in the ASCENT concurrent enrollment program and makes it available to more postsecondary students. This program saves Coloradans money as they pursue their higher education degrees.

The bill makes additional changes to support students and school districts, such as extending the K-5 Social and Emotional Health Pilot Program and the Dyslexia Screening and Intervention Program. It also strengthens the successful Educator Recruitment and Retention grant by encouraging recipients to teach for three years in areas where there are educator shortages.