HB 22-1186

HB 22-1186, which has been signed into law in Colorado, addresses changes in school funding for the fiscal year 2021-2022. The bill acknowledges that there was less money available from state funds due to lower than expected student enrollment numbers but also notes an increase in local property tax revenue. To balance this out and ensure schools receive adequate funding, it reduces the state's contribution by $139 million while adding back $91 million specifically for at-risk students who were underfunded initially. This means that overall school districts will still get their originally planned total funding, but with adjustments to better match actual needs and available local revenue.

Official Summary

The general assembly recognizes that the actual funded pupil count and the at-risk pupil count for the 2021-22 budget year are lower than expected when the appropriation amount for the state share of total program funding was established during the 2021 legislative session, resulting in a decrease in total program funding for the 2021-22 budget year. In addition, local property tax revenue and specific ownership tax revenue are higher than anticipated, resulting in an increase in the local share of total program funding. The act declares the general assembly's intent to maintain total program funding after application of the budget stabilization factor at the amount of the original appropriation for the 2021-22 budget year. The act decreases the appropriation for the state share of total program funding by $139,565,749 in cash funds from the state education fund and adjusts the 2021-22 state fiscal year long bill accordingly. The act appropriates $91,433,760 in cash funds from the state education fund to the department of education to distribute to school districts and institute charter schools that received lower than anticipated funding for at-risk pupils for the 2021-22 budget year. The appropriation is additional funding and does not affect a district's or institute charter school's total program. (Note: This summary applies to this bill as enacted.)

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