House reaches deal to restore some school funds
House Appropriations subcommittee members are set to start voting on the plan in Annapolis. They would shift $58.5 million back to the schools by raising some fees and snipping elsewhere in the $14 billion general fund budget.
“Investment in education is good public policy. It is good economic policy. It puts people on the path to success,” said Speaker Michael E. Busch in an interview this afternoon. The Speaker said the education would not be funded by new taxes.
Busch said his chamber's proposal would also relieve some stress to counties by reversing O’Malley’s proposal to charge them for the costs of collecting property taxes.
The House changes are designed to reaffirm the so-called Thornton formula, an education funding mechanism that has pumped billions of additional dollars into the state’s schools over the last decade but has also driven a soaring structural deficit.
The plan would give back nearly $10 million for kindergarten through 12th grade education in Baltimore, meaning the city would receive $866 million next year from the state. It returns about $13.5 million to Baltimore County and $10 million to Prince George’s County.