Return to Headlines

Budget Bill Goes to Governor

05.29.2015 — Both chambers today passed the state budget bill that has been in negotiations for several weeks. It includes $1.5 billion for the Foundation School Program (FSP) above $2.3 billion for enrollment growth.

2016-17 budget highlights for the FSP include:

  • $1.2 billion for the basic allotment per ADA ($5,140 both years)
  • $200 million for fractional funding (districts with compressed tax rates)
  • Guaranteed Yield increases to $74.28 (2016) and $77.53 (2017)
  • $55.5 million for IFA (FY 2017)
  • $47.5 million for NIFA

Other budget items outside of FSP include:
(*indicates the amount is unchanged from 2014-15 budget)

  • $25 million for ESCs*
  • $31 million for Communities in Schools*
  • $12 million for Teach for America*
  • $8 million for Virtual Schools*
  • $16.3 million for Advanced Placement Initiative*
  • $6 million for Early College High School*
  • $3 million for T-STEM, down from $6 million
  • $1.04 billion for IMA, up from $838 million
  • $40.6 million for the newly created math and reading academies
  • $31.7 million for SSI, down from $60.5 million
  • $30 million for supplemental funding for pre-K*
  • $118 million for pre-K programs that meet certain requirements

Also included in Article III is funding to pay for business and property tax relief:

  • $2.6 billion for a 25 percent reduction to the franchise tax
  • $1.2 billion to hold districts harmless for the $10,000 increase to the homestead exemption

The annual school district contribution rate for TRS-Care remains at 0.55 percent of total payroll.

Additional information related to the budget is forthcoming.