CO SB053

Adjusts Colorado school funding for 2020-21 to account for lower-than-expected pupil enrollment and local property tax revenue, reducing total program funding by $120,850,246 before budget stabilization factor application.

Increases state share of districts' total program funding to maintain the original appropriation amount, with local share reduced by $40,905,287 from projections.

Increases minimum total program funding guarantee for 2020-21 from $7,230,448,891 to $7,232,270,482 after budget stabilization factor application.

Provides additional appropriations totaling $45,858,090 to the Department of Education: $14,710,777 for pupil count adjustments, $4,578,464 for funding caps, $569,849 for institute charter schools, and $25,000,000 for rural school funding.

Creates temporary funding distribution mechanism to ensure districts' 2020-21 funding does not decrease more than their actual pupil count decrease or by more than 2 percent, repealing this provision July 1, 2022.