The Department of Public Instruction announced increased funding and alternatives for a proposal to alter Wisconsin's school finance system Monday.
Under the original proposal, $900 million in property tax credits would go towards education, while attempting to keep property taxes down.
In the first year, $3,000 in general aid funds would be allocated to each student in the school system. During the following year, aid would increase by 2 percent of the total DPI budget.
An additional $326.5 million should be granted for general aid funds, DPI said in a statement. Adding more state funding for schools makes property taxes more likely to stay the same, according to Director of the Legislative Fiscal Bureau, Bob Lang.
The DPI released two scenarios that refine their original plan. The first scenario would give 235 more school districts aid while 190 districts would get less.
The second scenario would give 235 more districts aid while allowing 190 districts to retain their current funds. An additional $71.4 million would be required to keep the 190 districts with the same amount of funding they have under the current financing model.
Estimates from the DPI are reasonable had they been applied to 2010 to 2011, the Legislative Fiscal Bureau said in a statement. The bureau said it will be tough to increase K-12 funding because the state's general education fund is in need of assistance.
