---
title: House bill could accelerate millions in state funding to New London
description: The School and State Finance Project has proposed a bill to help underfunded schools get additional state funding sooner rather than later.
---

[News & Press | School + State Finance Project ](https://schoolstatefinance.org/news-and-press)

# [House bill could accelerate millions in state funding to New London](https://schoolstatefinance.org/news-and-press/the-day-house-bill-could-accelerate-millions-in-state-funding-to-new-london)

 Written by [Johana Vazquez, The Day](https://schoolstatefinance.org/news-and-press/author/johana-vazquez-the-day) | Mar 3, 2023 2:08:00 AM

The School and State Finance Project, a nonpartisan, nonprofit policy organization, has proposed a bill to help underfunded schools get additional state funding sooner rather than later.

The Education Cost Sharing (ECS) formula is the method the state uses to distribute approximately $2 billion annually in state education aid to local and regional public school districts.

In 2017, state legislature adopted a ECS formula that would incrementally and annually increase funding to schools it considered “underfunded” and decrease funding to schools that are “overfunded” over a period of ten years, beginning in 2019.

The finance project has worked with state legislators on a bill, H.B.5003, for the past two years to get underfunded schools fully funded by July 1, 2024 instead of later.

The New London public school district could get $4.8 million more for the 2025 fiscal year under the proposed bill as opposed to the current law, based on preliminary numbers.

[View full post](https://schoolstatefinance.org/news-and-press/the-day-house-bill-could-accelerate-millions-in-state-funding-to-new-london)

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