Summary of HB 5212: An Act Concerning Education Funding

• Establishes new education funding formulas for interdistrict magnet schools, regional agricultural science and technology centers, state charter schools, and interdistrict public school attendance programs effective July 1, 2024 through a foundation-based system tied to student need metrics.

• Sets foundation amount of $11,525 per student for non-board-operated magnet schools for fiscal years 2025-2026, adjusting annually based on personal income or inflation increases starting FY 2027.

• Eliminates tuition charges for students in magnet schools and agricultural centers starting July 1, 2026, while capping tuition increases at 58% of FY 2024 rates through FY 2025.

• Transitions state charter school funding to full weighted formula by FY 2026 based on foundation amount multiplied by total charter need students, phasing in increases from 56.7% adjustment in FY 2025.

• Establishes sending town adjustment factors and receiving district grants for interdistrict public school attendance programs, with grants transitioning to section 1 formula for FY 2026 and thereafter.