House Sponsors: MADIGAN,MJ-LANG-PHELPS-DAVIS,MONIQUE-BOLAND, HOLBROOK, PUGH, GILES, MCGUIRE, STROGER, YOUNGE, NOVAK. Short description: FUND EDUCATION FIRST ACT Synopsis of Bill as introduced: Creates the Fund Education First Act. Beginning with fiscal year 1997, and in each fiscal year thereafter, provides that until the sum of State and federal spending for elementary and secondary education for the fiscal year represents 50% of the total revenues that the State Superintendent of Education estimates are available from local, State, and federal sources for elementary and secondary education for that fiscal year, the amount appropriated by the General Assembly from general funds for educational programs for that fiscal year shall be at least equal to the sum of (1) 50% of total new general funds available for spending from certain sources during that fiscal year, plus (2) the total amount appropriated from general funds for educational programs during the preceding fiscal year. Requires the Governor, beginning with fiscal year 1998, to include in his annual budget an allocation for education that conforms to the provisions of the Fund Education First Act. Effective immediately. FISCAL NOTE (State Board of Ed.) For purposes of this analysis, we are assuming level federal funding, a 4 1/2% increase in state general revenues, a $400 million annual increase in local property tax revnues, and a 2/3 share of funding going to elementary and secondary educa- tion with 1/3 going to higher education. It is also assumed that no fundamental changes are made in our education financing system. Under this scenario, the 50% level for state funding will be reached in the year 2020, with elementary and secondary education revenues reaching $15.8 billion in that year (not cumulative). STATE MANDATES FISCAL NOTE (State Board of Ed.) No change from SBE fiscal note. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status