New formula seeks $107M more for state aid to K-12 schools

New formula seeks $107M more for state aid to K-12 schools

JACKSON, MS (AP) - Leaders in the Mississippi House intend to recommend a new education funding formula that would require the state to spend $107 million more than it's spending this year to aid K-12 schools.

While providing more than the state is currently spending, it would be about $150 million less than the current formula is recommending for next year. The Legislature has fully funded the current funding formula only twice in 20 years.

The figures presented Wednesday by a nonprofit group at the behest of House Speaker Philip Gunn would not alter property tax rules of the current formula. EdBuild had recommended requiring property-rich districts to contribute more.

Gunn's scenario also requires about $20 million less in overall spending than EdBuild recommended last year.

Changes would be phased in over several years.

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