School funding proposal would generate millions for education but increase taxes in some districts KOAA and last updated 2021-03-10 21:46:02-05 SOUTHERN COLORADO â Colorado lawmakers voted 6-3 Wednesday to advance a bill that proponents hope will make the state's K-12 school finance system equal across districts. HB21-1164 would restore budget cuts from last year, and generate millions for education in the state. It would also gradually increase taxes over two decades for some school districts. "Building back stronger Colorado truly means that every student in Colorado has access to the education they need to thrive. All Colorado taxpayers and students deserve fair and sufficient funding of the public K-12 system. We are simply correcting an error in our property tax system to help get us there," said House Majority Leader Daneya Esgar, (D) Pueblo, and co-sponsor of the bill.