New education funding formula proposed for Tennessee

Governor Bill Lee and Tennessee Department of Education Commissioner Dr. Penny Schwinn on Thursday officially unveiled their new plan to fund public schools. They call the new formula the “Tennessee Investment in Student Achievement” (TISA) and say that it is based on each individual student’s needs. If approved by the General Assembly later this year, the formula (which is similar to the ones used in 40 other states) would replace the 30-year-old funding formula called BEP.

TISA would fund each school district with $6,800 of base funding for each student. Then, based on student needs, the state would supplement that amount. Factors include:

Economically disadvantaged students
Students living in areas of concentrated poverty
Students in sparsely populated communities
Students in small school district
Students with unique learning needs

The program would also provide additional funding for students who need literacy tutoring, as well as for students in kindergarten through third-grade learning how to read.

We will follow this proposal as it works its way through the legislative process in Nashville