Senate Bill 1538 Summary

• Eliminates the revenue control limit increase for student growth (repeals section 15-948) and shifts K-12 funding calculations to use current-year average daily membership rather than prior-year figures beginning fiscal year 2016-2017.

• Reduces state equalization funding for school districts by $352.4 million and charter schools by $18.7 million for fiscal year 2016-2017, with protections limiting reductions for small districts to a maximum of $5 million combined.

• Establishes a college credit by examination incentive program providing bonuses to teachers and schools when high school students pass qualifying college entrance exams, with distributions of $300-450 per passing score depending on school poverty levels.

• Modifies charter school sponsorship provisions to prohibit school district governing boards from sponsoring new charter schools or conversions beginning after June 30, 2013, while allowing existing district-sponsored charter schools to transfer to state sponsors if the district becomes financially noncompliant.

• Implements various technical changes to K-12 funding formulas, joint technical education district operations, and facility adequacy standards; extends the K-6 literacy intervention pilot program through 2019.