The bill that funds Colorado’s school districts and charter schools passed the state House 60-5 Thursday, promising to send more money to schools with more at-risk students, those who need help speaking English and children living in poverty.

The School Finance Act, Senate Bill 268, exceeds the current year’s school budget by $750.8 million, making up for cuts made last year to accommodate the pandemic’s expected strain on the state budget, which never managed to materialize.

Nonetheless, the new formula means an increase of nearly $624 million when the 2022-23 school year rolls around.

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The bill cleared the Senate 35-0 on May 17, but made a return trip to the upper chamber Thursday night, where senators unanimously concurred with House amendments to the bill. That sends the appropriation package on to the governor’s desk for a signature.

“This year’s school finance act puts students and teachers first by significantly increasing funding for K-12 education,” Rep. Barbara McLachlan, D-Durango, a former teacher who chairs the House Education Committee, said in a statement Thursday afternoon

“Everyone in the education community has been through so much the last year. I’m proud that we were able to come together to support our students, provide districts with the resources they need, and strengthen our school finance formula.”

The bill was sponsored by Sens. Paul Lundeen, R-Monument, and Rachel Zenzinger, D-Arvada, with McLachlan and Rep. Julie McCluskie, D-Dillon.

ChalkBeat Colorado reported Thursday that the lawmakers are in a special legislative committee meeting for two years to recommend changes on funding schools, including doing a better job identifying and helping students in poverty, as well as addressing disparities in school funding because of property values between poorer and wealthier communities.

A different special committee met for three years, concluding in 2020, without coming up with actionable answers. 

“I’m frustrated,” Lundeen told ChalkBeat’s Erica Meltzer a year ago. “We have an opportunity to make the formula about students, and the power establishment is blocking progress.”

The interim legislative committee is proposed in House Bill 1325, which passed the two House committees, education and appropriations, by unanimous votes Thursday.

Rep. Leslie Herod, D-Denver, who sits on the legislature’s Joint Budget Committee said she formula is more equitable this year, a balancing act she’s prioritized on many fronts this session.

“We’re making important changes that will make school funding more equitable and student-focused,” Herod stated. “We have to do more to support the schools who are serving our most vulnerable students, and that’s exactly what we’re doing. By focusing on equity and directing additional resources to districts that serve more at-risk students, we can provide more children in Colorado access to the education they need to thrive.”

The bill restores funding for grants that were trimmed or paused last year, restoring services such as dropout and bullying prevention literacy, advanced placement courses, special education and behavioral health.