Summary: The bill requires each school district that has obtained voter approval to retain and spend revenues in excess of the property tax revenue limitation imposed on the school district by TABOR to restore the number of mills it levies under the School Finance Act to the number of mills levied in the property tax year immediately preceding the year in which the school district received the voter approval. The mill levies are restored in equal increments over five years. A school district is not allowed to levy a number of mills that would exceed the school district’s total program as calculated before application of the negative factor.
Position: The Colorado Children’s Campaign is closely monitoring this bill as one of several proposals to address inequities in our school finance system. Our system is inherently inequitable and we are encouraged by conversations at the Capitol to address both equity and adequacy in school finance, particularly as they pertain to the property tax system that provides the bulk of local funding for schools.
Current Status: Scheduled to be heard in the Senate State, Veterans, & Military Affairs Committee on Monday, Feb. 13 at 1:30 p.m. in Room 357