To shift the sources of funding for the current fiscal year school aid budget to compensate for lower than expected balances in the state “general fund.” This is due to higher than expected payouts to corporations and developers who were granted selective “tax credit” deals by the previous administration. (The draw-down of this fund is happening despite state revenue collections actually rising faster than spending in the current year.) The bill also reduces school aid appropriations to reflect lower than expected public school enrollment figures in the current school year, and reduces some payments intended to reduce the amount of unfunded liabilities in the school employee defined benefit pension system.
| 62 Yeas / 48 Nays | |
|---|---|
