School funding stabilization bill approved

CARSON CITY — The Assembly has passed a bill to create a funding stabilization account for K-12 education.

Assembly Bill 458 would decrease abatements offered by redevelopment agencies, economic development zones and the Economic Development Commission and redirect that money to education. The measure moves to the Senate.

Assembly Speaker Barbara Buckley, D-Las Vegas, said that because education comprises such a large percentage of the budget, it’s hard to shield schools from a downturn.

"It makes no sense to fund education in good times and take away funding in bad times," Buckley said.