State lawmakers this week agreed to use nearly $500 million in so-called “millionaires tax” to deliver a major boost to K-12 school funding.
It’s a move that some see as fulfilling the voter-approved mission of the surtax. Yet others worry the funds aren’t being used as intended: to launch new education and transportation initiatives.
The budget that lawmakers sent to Gov. Maura Healey’s desk Monday includes a $496 million expansion to the state’s Chapter 70 funding, which provides education revenue for local school districts. That money comes from revenue generated by the 4% surtax on annual income over $1 million. The surtax was approved by voters in 2022 through a ballot question, also called the Fair Share Amendment…