(HT) Funding Formula BAD HB 59 8-12-13-a

New School Funding Formula

• Governor proposed funding formula • House made changes to original proposal • Senate made further adjustments • Conference Committee – compromise between the two versions • Final version • $830.8 million additional foundation formula funding and TPP Replacement over the biennium as compared to the FY 2012-13 biennium** • $607 million less than FY 2010-11 biennium** ** Comparisons provided by Dr. Howard Fleeter, Consultant for Education Tax Policy Institute using Ohio Legislative Service Commission data