Legislation increases K-12 public school funding by an average of $545 per student, or $13,600 for a classroom of 25 students
DENVER, CO – The House Education Committee today passed the 2022 School Finance Act by a vote of 7-2.
“The 2022 School Finance Act significantly increases funding for public education in Colorado to prepare our students for success and improve our schools,” said Rep. Julie McCluskie, D-Dillon. “By increasing per pupil funding by $545 per student, we will put more resources into classrooms to increase teacher pay, reduce class sizes and ensure students have what they need to thrive.”
“One of our top priorities this session is investing in our students, educators, and K-12 public schools. This record investment will prepare our students for success, increase teacher pay, and provide additional resources to classrooms in every part of Colorado,” said Rep. Barbara McLachlan, D-Durango. “Under this year’s school finance act, a classroom of 25 students will see an average increase of $13,600 that will go directly to providing the quality education that every child in our state deserves.”
HB22-1390, sponsored by Representatives Julie McCluskie and Barbara McLachlan, sets funding levels for Colorado’s public school districts. This year, the bill increases state 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, or approximately $13,600 for a classroom of 25 students. 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.