Gov. Jared Polis signs Colorado budget with focus on schools, public safety, housing

Gov. Jared Polis signed the Colorado budget on Monday, fully funding schools, creating more housing and investing in public safety. The $525.8 million budget is for the fiscal year 2024-2025.

According to Polis' office, the budget will help give teachers and students what they need to succeed, create more housing that Coloradans can afford, and invest in public safety initiatives to keep people who live here safe. 

"This bipartisan budget builds a stronger, brighter, and safer future for Colorado where we invest in students, have housing people can afford near work and transportation options, and live in safer communities. By fully funding our schools, creating more housing now, and making our neighborhoods safer, Coloradans can continue to thrive in our beautiful state. I thank the legislature for its partnership and I look forward to seeing these investments improve the Colorado way of life," said Polis.  

Additional Information from Gov. Polis' Office:

This budget invests $525.8 million to provide Colorado students of all ages and teachers the tools they need to thrive including:

•    $141.2 Million, specifically to eliminate the Budget Stabilization Factor

•    Increasing per-pupil funding by 6.9%, over $16,000 more per classroom

•    $34.7 Million to support special education

•    $22.2 Million, an 82.3% increase in charter school funding

•    $344.1 Million, a $22.1 Million increase, to build on Colorado's successful Universal Preschool, including expanding full-day preschool to low-income 4-years olds 

•    $140 Million to keep in-state resident tuition low

In addition to fully funding schools, this budget builds upon the widely popular and successful Universal Preschool Program that saves Colorado families an average of $6,000 per year on childhood education expenses and free full-day kindergarten saving Coloradans $500 per month, which Governor Polis signed into law in 2019. 

This budget invests $58 Million to create more housing that Coloradans can afford now and encourage more housing near job centers and transportation including:

•    $35 Million to support and encourage Transit-Oriented Communities

•    $13.9 Million to increase the number of Accessory Dwelling Units, support commercial to residential conversions, and tax credits for housing in historic structures

•    $9 Million to fund vouchers to help prevent homelessness 

Governor Polis remains laser-focused on addressing Colorado's housing needs by creating more housing near job centers and transportation options for rent and purchase that Coloradans can afford. On April 15, 2024, Governor Polis signed legislation that eliminated unfair and discriminatory occupancy limits in Colorado, a strategy he outlined in his 2024 State of the State address. 

This budget moves Colorado closer to becoming one of the Top Ten Safest States by investing $30 Million in Public Safety including:

•    $9.2 Million to reduce auto theft

•    $6.0 Million to support victims of crimes

•    $3.0 Million to fund community-based crime prevention grants 

•    $2.0 Million for grants to enhance school security