Proposition 301 was approved by voters in 2000 and levies a 6/10 of a cent sales tax to fund K-12 schools, universities and colleges. It was set to expire in 2021.
The proposal approved on supermajority votes in both chambers extends the tax for 20 years. It takes $64 million currently being used for debt service and redirects it to teacher pay after June 2021. That will provide about a 2 percent pay increase.
The sales tax brings in about $667 million a year. Public K-12 schools get the bulk of the cash, but universities and colleges and bond interest payments also get a share.