Determination of state public education funding

[Editor's note: This section takes effect only if Senate Bill 26-135 is approved by the voters at the 2026 statewide election and becomes law.] (1) On or before January 15, 2027, on or after July 1, 2027, but before August 1, 2027, and on or after each July 1 and before each August 1 thereafter, legislative council staff shall determine and report to the state controller, the office of state planning and budgeting, and the joint budget committee, the greatest total amount in a preceding state fiscal year that has been counted as state fiscal year spending and appropriated by the general assembly for a preceding state fiscal year for categorical programs and the state share of total program and the amount of the two percent K-12 public education increase for the same preceding state fiscal year. The amount determined and reported by legislative council staff pursuant to this subsection (1) is the state public education funding for that state fiscal year. (2) As used in this section, unless the context otherwise requires: (a) "Categorical programs" has the meaning set forth in section 22-55-102 (4). (b) "State share of total program" means an amount equal to the total of the state's share of each school district's total program, as defined in section 22-55-102 (18).