Mid-Year Adjustments to School Funding

Joint Budget Committee. The general assembly recognizes that for the 2024-25 budget year the actual funded pupil count is higher than anticipated when the appropriation was established in the 2024 legislative session for total program funding for the 2024-25 budget year.

In addition, local property tax revenue and specific ownership tax revenue are lower than anticipated, resulting in a decrease in the local share of total program funding for the 2024-25 budget year.

The bill declares the general assembly's intent to increase the state share of districts' total program funding by $64,076,611 for the 2024-25 budget year.

The bill adjusts a repeal date for the total program reserve fund.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)