CO HB1232

Creates a new public school funding distribution formula to replace the 1994 formula, effective only if voters approve a statewide ballot measure by January 1, 2023 that increases state tax revenues for preschool through secondary education funding.

Calculates district total program funding using a statewide base per pupil amount plus adjustable factors for district size, poverty, English language learners, gifted students, special education needs, and regional cost of living differences.

Counts kindergarten students as half-day or full-day pupils based on program length and preschool students as half-day pupils, anticipating future expansion of preschool enrollment without current participant limits.

Differentiates special education funding between specified and non-specified disabilities, with high-cost disability cases eligible for separate reimbursement grants, and limits English language learner factor funding to up to seven years.

Provides hold-harmless protection ensuring no district receives less funding under the new formula than under the 1994 formula without budget stabilization reductions, with subsequent years receiving prior year funding plus inflation.