HB 2850 Summary

• Increases base level funding for K-12 education from $4,390.65 to $4,478.46 per student count for fiscal year 2022-2023.

• Updates charter school additional assistance amounts to $1,935.86 per student in preschool through grade 8 and $2,256.21 per student in grades 9-12 (increased from previous fiscal year amounts).

• Adjusts transportation support level state support rates for approved route miles from $2.77/$2.27/$2.77 to $2.83/$2.32/$2.83 per route mile for fiscal year 2022-2023.

• Sets qualifying tax rates for tax year 2022 at $1.7133 for high school/common school districts and $3.4266 for unified districts, with state equalization assistance property tax rate of $0.4128.

• Establishes results-based funding allocations of $225-$400 per student count based on school performance on spring 2021 statewide assessments and poverty levels.