Colo. school funding plan heads to governor
DENVER — Colorado’s school funding bill is heading to the governor’s desk with more money than originally expected.
The Senate today approved a House plan amending the school finance act. It seeks to reduce next year’s cuts to schools by $90 million.
Lawmakers say that’s possible because of better-than-expected tax revenues. The amended bill restores $22.5 million to schools next year by transferring surplus money from the state’s education fund, a sort of savings account for education funded by income taxes. Another $67.5 million would be safeguarded to prevent future cuts to the neediest schools.
Democratic Gov. John Hickenlooper initially proposed a $332 million cut to education next year but lawmakers reduced that to $250 million, not including the additional amendments.
Hickenlooper plans to sign the bill as amended.