SB23-136 Summary

• Adjusts Colorado school funding for fiscal year 2022-23 to account for lower-than-expected pupil enrollment but higher-than-expected at-risk pupil counts, resulting in $17,036,588 more total program funding before budget stabilization.

• Local property tax and specific ownership tax revenue exceeded projections by $93,419,960, reducing the need for state funding.

• Reduces state share of districts' total program funding by $76,383,372 by maintaining the budget stabilization factor at its original 2022 appropriation level.

• Increases minimum total program funding for all districts and institute charter schools for 2022-23 from $8,422,216,159 to $8,438,010,643 after budget stabilization factor application.

• Requires mid-year revisions using actual pupil enrollment, assessed valuations, and tax revenue data to adjust the budget stabilization factor as needed to maintain targeted funding levels.