SB 1472 Summary

• Increases annual appropriation to the classroom site fund from $64,100,000 to $300,000,000 from transaction privilege and use tax revenues.

• Modifies the distribution formula for remaining revenues by adding fixed dollar amounts to the technology research initiative fund ($28,308,000) and workforce development account ($7,077,000) in addition to percentage-based allocations.

• Maintains existing distributions for school safety ($7,800,000), character education grants ($200,000), failing schools tutoring fund ($1,500,000), and income tax credit reimbursement ($25,000,000).

• Preserves the allocation structure for remaining classroom site fund revenues: 40% for performance-based teacher compensation, 20% for teacher base compensation increases, and 40% for maintenance and operations.