Governor Chris Sununu signed a compromise two-year state budget into law on Thursday in front of a group of students and teachers at Franklin High School.
The new budget increases school funding close to the $140 million boost that Democrats proposed earlier this year. The budget restores a type of aid called stabilization aid that the state had been cutting annually, and it sends additional aid to poor districts.
Many parts of the new education aid only include one-time funds.
Proponents of increasing state funding for education see the new budget as a significant win, but they say it doesn’t solve the problems with the funding formula, which allocates money in the form of “adequacy aid” to school districts.
This formula is the subject of a lawsuit brought by ConVal and other school districts now headed to the state Supreme Court.
Lawmakers expect to form a committee that will examine the existing formula and propose new ones.
“If they want to revisit the formula that is something we are open to,” said Sununu. “You got to make sure that it’s fair and balanced. So there’s always opportunity.”
The most substantial increases in school funding come in the second fiscal year.
Lawmakers reached this budget compromise after nearly three months of negotiations.