Lawmakers tackle funding

(January 26, 2004) — (Little Rock-AP) -- Legislators plan to target a new school funding formula this week, along with a 400 million dollar down payment toward paying for it. Agreement could come as early as tomorrow on a proposed new two-point-seven billion dollar formula for distributing school aid. It needs only Senate endorsement of House changes for final legislative approval. However timing was uncertain as the House and Senate revenue and tax committees prepare to begin debate on a range of tax increases to generate the nearly $400 million in additional state money the formula would require.