Adjustments to School Funding Budget Year 2023-24
In addition, local property tax revenue and specific ownership tax revenue are higher than anticipated, resulting in an increase in the local share of total program funding for the 2023-24 budget year.
The bill declares the general assembly's intent to maintain the budget stabilization factor at the amount of the original appropriation for the 2023-24 budget year.
The bill decreases the appropriation for the state share of total program funding by $23,964,790 in cash funds from the state education fund and adjusts the 2023-24 state fiscal year long bill accordingly.
(Note: This summary applies to this bill as introduced.)