HB 2902 Summary

• Increases charter school additional assistance from $1,843.14 to $1,875.21 per student (K-8) and from $2,148.15 to $2,185.53 per student (grades 9-12) for fiscal year 2020-2021.

• Adjusts base level funding for school districts to $4,305.73 per student count for fiscal year 2020-2021.

• Reduces district additional assistance by $64,367,400 and charter additional assistance by $3,407,200 for fiscal year 2020-2021, with all reductions eliminated for fiscal year 2021-2022 and thereafter.

• Increases transportation support level rates for approved daily route mileage per eligible student transported (from $2.69 to $2.74 and from $2.20 to $2.24).

• Updates state equalization assistance property tax rates and qualifying tax rates for tax year 2020 to offset changes in net assessed valuation.