HB19-1055 Summary

• Beginning July 1, 2019, all retail marijuana excise tax revenue is credited to the Public School Capital Construction Assistance Fund, with charter school funding now based on the percentage of statewide pupil enrollment in charter schools rather than a fixed 12.5%.

• The state treasurer transfers $4.25 million from the assistance fund to the charter school facilities assistance account and $25 million to the full-day kindergarten facility capital construction fund.

• Maximum annual lease-purchase agreement payments increase from $100 million to $105 million for fiscal year 2019-20 and $110 million for fiscal year 2020-21 and thereafter.

• Charter schools providing full-day kindergarten programs receive formula-based grants up to $25 million total for fiscal year 2019-20, distributed based on eligible pupil enrollment and equitable adjustment factors.

• Appropriates $80.656 million total for fiscal year 2019-20 for school capital construction assistance, full-day kindergarten facilities, lease payments, and charter school facilities.