Colorado Senate Grants Final Approval to Bill to Overhaul How Schools Are Funded

Wednesday, April 3, 2013

The bill passed 20-15, with all Democrats in favor and all Republicans against. The bill takes effect only if voters approve about $1 billion in higher income taxes.

If it becomes law and voters approve the tax increase, the bill would allocate the revenue this way:

- $100 million annually to the Education Innovation Grant Fund

- $80 million annually for distribution as special education funding

- $6 million annually to a statewide program to provide career opportunities for highly effective educators

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