SB19-128 Summary

• Reduces the 2018-19 state share of total program funding from $7,088,776,230 to $7,066,050,970 based on lower-than-expected pupil enrollment and at-risk pupil counts.

• Accounts for actual local property tax and specific ownership tax revenues being $56,095,569 higher than projected in the 2018 legislative session.

• Maintains the budget stabilization factor established in the 2018 legislative session while implementing the reduced state funding amount.

• Appropriates $545,147 to the Department of Education to correct underpayment errors to the state charter school institute for the 2015-16 and 2016-17 budget years caused by IT system implementation issues.

• Requires the Department of Education and legislative council staff to make mid-year revisions comparing projections to actual figures including pupil enrollment, assessed valuations, and tax revenue.