DENVER (AP) – A monster makeover for K-12 school funding in Colorado has cleared the Democratic Legislature and await the signature of Gov. John Hickenlooper.

But a big question remains: How will the state pay for it?

The school overhaul that won final approval in the Senate Wednesday relies on voters approving about $1 billion in new taxes. Those taxes will come in a separate ballot measure this fall.

If the tax passes, the education bill would readjust school funding formulas that many say have been out of whack for years. The taxes would also pay for statewide full-day kindergarten and expanded preschool for needy children.

The bill also lays out a series of incentives for local governments to ask voters for local tax hikes to fund schools.

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