Chairwoman Cummings launched the Senate Finance Committee right in on Tuesday morning, explaining that they had drafted an amendment to H.887 the previous day. She reiterated that the Commission on the Future of Education will remain in the bill, but the amendment creates an Education Finance Study Committee who’s work will result in proposed legislation after taking into account “everything that goes into school financing.” The task of this study committee will be to design an “affordable educational funding system designed to ensure substantially equal access to educational opportunities for all Vermont students.”

Representative Kornheiser introduced the Senate changes on H.887 to the House Floor Friday night. Her proposal of amendment embedded the education finance study into the Commission on the Future of Education. They also proposed an excess spending threshold of 118% above average district spend, which splits the difference between the original positions of the two bodies.

Chairwoman Kornheiser kicked off the House Ways & Means Discussion on Thursday around H.887 by telling the Committee to “take a breath on all our opinions on everything related to the Yield. And actually, just first hear what the Senate did.” She instructed them to keep their questions restricted to “qualifying” and understanding, keep notes on other concerns for later.

The yield bill, H.887, reached the Senate floor late on Friday night. Senator Cummings shared the compromise they had reached with the House to “meld” the two study committees together. The finance study would now be a sub-committee for the Commission on the Future of Education. The major point of contention was the one-time bump in the property tax credit in an attempt to hold income sensitized taxpayers harmless.

Chairwoman Cummings opened the Senate Finance Committee meeting on Tuesday by reminding Senators that “we now have about four days (possession of H.887)… to figure out how to actually save the public school system.” It was noted that 30 school budgets had been defeated, some now twice. Senator Chittenden added the South Burlington budget 3^rd vote is next Tuesday.

Representative Conlon joined the Senate Education Committee on Wednesday afternoon. The Committee wanted to hear from him about a “formal check in” from the Commission on the Future of Education in January.

Secretary Saunders (Secretary, Agency of Education) joined the Senate Education Committee on Friday afternoon to discuss Section 1 of the property tax yield bill, H.887. The Agency supports this section which creates the Commission on the Future of Education. She did offer some clarifying language ensuring more representation of policy experts can be accessed. She her written testimony.

H.887 reached the House Floor on Tuesday afternoon. Representative Kornheiser introduced the bill on behalf of the Ways & Means Committee. She shared that they have “struggled mightily to navigate through this issue.” She highlighted that “this work cannot be done overnight or even in a couple months during the legislative session.” The $250M in new spending was described as the primary driver of property taxes, increasing property taxes by roughly $0.25. Other factors identified were weaker performance of non-property tax revenue sources and loss of federal funds. Other measures in the bill have been reported on previously.

The House Ways & Means Committee met first thing on Tuesday morning to begin reviewing proposed amendments to H.887, which sets the property tax rates for FY2025.

On Tuesday morning, the House Ways and Means Committee heard from Morgan Daybell, who was representing all the administrative groups in the education system. He noted that they felt that the funding and policy discussions should not be separated, and the same Commission should be responsible for both. They approve of the cloud tax and the short-term rental surcharge and “anything else” that would increase the statewide yield amount.