LBB Releases Details of Budget Conference Committee Decisions
05.21.2015 — The Legislative Budget Board has posted the state budget conference committee decisions on public education funding. The conference committee adopted the Senate version of $1.2 billion in increased formula funding above the already agreed upon enrollment increase of just more than $2 billion. The conferees agreed on $2.6 billion to offset a 25 percent franchise tax reduction. They also included:
$200 million contingent upon legislation that addresses fractionally funded districts (SB 945);
$47.5 million for the New Instructional Facilities Allotment in fiscal year 2017;
$55.5 million for the Instructional Facilities Allotment in FY 2017; and
$40.6 million for math and literacy teaching academies.
The House and Senate must now approve the conference committee report.