School finance plan details for the next few fiscal years were released today in the Conference Committee Report for House Bill 1811. The details below were excerpted from a summary report prepared for the CCR.  To access school finance runs by school district and open enrollment charter school click on the link Conference Committee Report Information for HB 1811 (350.07 KB). 

"School Funding

Fiscal Year 2012

• Prorates district entitlement across the board in the amount of $2 billion a year by reducing regular program funding.

Fiscal Year 2013

• Prorates district entitlement across the board in the amount of $500 million.
• Reduces target revenue hold harmless entitlement in the amount of $1.5 billion a year.

Fiscal Years 2014 and beyond

• The regular program adjustment is set by the legislature through the appropriations process.
• Target revenue hold harmless reductions are set by the legislature through the appropriations process.
• Includes intent language that the legislature continue to reduce target revenue hold harmless and increase the basic allotment.

Fiscal Year 2018

• Repeals target revenue hold harmless.

ADDITIONAL CHANGES

• Establishes an interim a joint legislative committee to evaluate the overall structure of public school finance.
• Repeals the funding gain limitation implemented last session with HB 3646.
• Modifies the proration statute to apply proportionate reductions to all districts.
• Districts are not entitled to prorated amounts in the subsequent biennium.
• Repeals the current statutory provision that raises the basic allotment when state property value increases.
• Allows districts to forego an additional public hearing if they set their I&S tax rate at a level lower than previously discussed publicly.
• Corrects the current minimum salary schedule by establishing dollar amounts and resets the factors off the basic allotment."