State Education Fund Reading to Ensure Academic Development Act & Colorado Teacher of the Year Program

Joint Budget Committee. Under existing law, money is annually transferred from the state education fund to the Colorado teacher of the year fund for the Colorado teacher of the year program and to the early literacy fund to fund specified purposes in support of the "Colorado READ Act".The bill discontinues the annual transfers and instead permits the general assembly to appropriate money from the state education fund for the Colorado teacher of the year program and requires the general assembly to appropriate at least $34 million from the state education fund for the same specified purposes in support of the "Colorado READ Act". The bill repeals the Colorado teacher of the year fund and the early literacy fund, effective September 1, 2027.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)