2026 School Finance Act Clears Committee

DENVER, CO – Today the Senate Education Committee voted to advance the 2026 School Finance Act, sponsored by Senator Chris Kolker, D-Centennial.

“As Chair of the Senate Education Committee, upholding our promise to Colorado students, teachers, and schools is my number one priority,” said Kolker. “During an extremely challenging budget year, we worked hard to ensure we don’t backslide on the important progress we’ve made to eliminate the Budget Stabilization Factor and drive more funding to our schools. While there is much more work to do to ensure Colorado is a national leader in public education funding, I’m proud that despite budgetary constraints we were successfully able to increase per pupil funding and protect funding for Colorado’s public schools.”

Also sponsored by Senator Barb Kirkmeyer, R-Weld County, SB26-023 sets statewide per pupil funding at $12,314 for Fiscal Year 2026-2027, an increase of $438 as compared to FY 2025-2026 funding levels, bringing total K-12 funding for the upcoming fiscal year to $10.2 billion and increasing total program funding by $191.9 million. The General Fund contribution to K-12 education is increasing significantly thanks to the Kids Matter Fund created by Democrats last year, which is forecast to invest more than $216 million in Colorado’s schools next year. 

Under SB26-023, the new school finance formula (HB24-1448) is implemented at 30 percent and includes a three-year averaging model to help stabilize school funding in a declining enrollment environment. This follows requirements in last year’s School Finance Act that phased in the implementation of the new school funding formula at 15 percent per year for six years, and then 10 percent for the final seventh year of implementation.

This year, Democrats also increased funding by $14 million to continue free preschool access for all Colorado kids and increased funding by $38 million to implement the voter-approved Proposition MM to preserve access to free school meals for students.

SB26-023 now moves to the Senate Appropriations Committee for further consideration. Track its progress here.