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DETAILS
General Fund education spending will increase by $489 million in FY 2002-03 compared to FY 2000-01. Of this increase, $123 million is in new initiative recommended by the Governor. An additional $10 million to address teaching workforce issues is recommended from the Workforce Development Fund.
Over $1.46 billion of additional K-12 spending is reflected in the Governor's tax reform plan, including the elimination of the general education levy, and enhanced equalization of other levy programs. State spending on schools is only part of the K-12 funding picture.
In FY 2002, the state will provide schools with 62 percent coming from property taxes. With the governor's proposed state funding of the general education levy, the state's share of education funding will increase to over 80 percent of school district's total revenue in FY 2003. The proposals in the tax plan will free up resources at the local level, leaving districts with more capacity to fund local priorities, based on each community's individual needs.
- Budget executive summary
See a more extensive list of K-12 initiatives.
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