Lawmakers send school funding bill to Holden

JEFFERSON CITY, Mo. -- After days of negotiation and debate, lawmakers have sent Gov. Bob Holden a bill that could allow them to provide a smaller funding increase to public schools and claim political victory.

The Senate voted 19-14 Monday for the bill that retools the formula used to determine the base funding for elementary and secondary schools.

Public school districts are receiving a base of $2 billion this year under a formula that factors in such things as a district's property tax levy, assessed valuation and student enrollment.

Based on the formula, schools would be due at least another $250 million for the upcoming year, state education officials said Monday.

The bill sent to Holden would lower that amount to $175 million by averaging two years' worth of figures for assessed property valuations. That change would reduce the amount needed to fully fund the formula next year and increase the amount needed under the formula the following year.

Supporters said the effect would be to diminish the every-other-year spikes that currently occur in the formula because of biennial property reassessments.