New School Finance Formula in House Bill 24-1448

House Bill 24-1448 enacted a new school finance formula, to begin in FY 2025-26 and be phased in over a 6-year period. This memorandum provides an overview of the new formula, the six‑year phase‑in period, and the parameters that would result in pausing implementation of the new formula. It does not include provisions of HB24-1448 that are not directly related to the new formula, including changes to mill levy override limits, the mill levy override match program, and capital construction funding.