CO HB1394

Establishes state funding for charter school institute mill levy equalization beginning in the 2024-25 budget year to provide institute charter schools additional revenue that traditional school districts receive from local property tax mill levies.

Requires the general assembly to appropriate annually from the general fund or state education fund the amount necessary to fund full mill levy equalization for all institute charter schools on an equal per-pupil basis.

Limits per-pupil distribution to the amount of additional mill levy revenue that the accounting district is authorized to collect divided by its funded pupil count, ensuring institute schools receive no more than traditional districts in their area.

Adjusts 2024-25 appropriations by decreasing general fund and mill levy equalization fund allocations by $22,735,696 total and increasing state education fund allocation by $22,000,000 for charter school institute mill levy equalization.

Declares that providing institute charter schools equalization funding qualifies as accountable education reform under the state constitution and allows such funding to be distributed from the state education fund.