Legislation to Increase Colorado Public School Funding Passes Committee

SB26-135 would give voters the opportunity to invest in Colorado’s students and teachers

DENVER, CO – The Senate Finance Committee today passed legislation to refer a measure to the November ballot to allow Colorado to retain revenue above the current TABOR cap to drive funding to K-12 schools.

SB26-135, sponsored by Senators Jeff Bridges, D-Arapahoe County, and Cathy Kipp, D-Fort Collins, would refer a statewide measure to the November 2026 ballot that would free up state funds to boost investment in K-12 schools. Increased investment would mean more educators in classrooms, smaller class sizes, and stronger special education services.

"This measure is about the simple idea that when Colorado's economy grows, our school funding should grow alongside it," said Bridges. "For decades, we have underfunded our schools using the negative factor. This measure gives us the chance to turn that around and lead with a positive factor. Public education is how a kid from any neighborhood, city, or county in Colorado can have the opportunity to succeed. It's time to fund our schools. It's time for Colorado schools to be as strong as Colorado itself."

“As a former school board member, I know firsthand how our schools struggle each year to do more with less, to provide a quality education for every Colorado student while being squeezed from all sides,” said Kipp. “This measure is about giving Coloradans the opportunity to decide if they want to make progress in our quest to adequately fund our public schools so that every Colorado kid can fulfill their potential.”

The measure would ask voters to increase general fund K-12 funding by up to 2 percent annually for the next ten years. It would allow the state to retain and spend revenue that it already collects in an amount equal to 2026-27 state K-12 funding, providing stable, predictable funding to keep pace with population growth and student needs. Additionally, it would require a public audit and report detailing how much excess revenue was retained and how it was spent. The measure would not raise taxes.

Colorado has chronically underfunded K-12 public schools. The state ranks 40th in teacher pay and retention, and underfunds every student by about $4,600 per year – a total shortfall of nearly $4 billion. Currently, K-12 funding makes up roughly a third of the state’s total budget. 

Current budget challenges under TABOR threaten the progress Colorado Democrats have made to increase funding for K-12 education. Colorado’s  current budget model is inadequate to meet the state’s educational goals. 

The bill now heads to the Senate Appropriations Committee for further consideration. Track its progress HERE.