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Tennessee governor signs new K-12 funding formula into law

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FRANKLIN, Tenn. (AP) — Tennessee Gov. Bill Lee has signed into law an overhaul he proposed for the formula for funding the state’s multibillion-dollar K-12 education system.

The Republican signed the law at Franklin High School, where he attended school. Lawmakers in the Republican-supermajority General Assembly passed the bill last week.

Under the new school funding plan, Tennessee would join nearly 40 other states that attach a set amount of money per student.

This has alarmed critics who argue the plan could potentially punish school districts because they might receive less funds over time. However, supporters counter the current decades-old funding mechanism is overly complicated and makes it difficult to track how the money is spent.

The new formula starts in the 2023-2024 school year.