HARRISBURG, Pa. (CBS) — A spokesman says Governor Tom Wolf will sign a bill implementing a new funding formula for Pennsylvania schools.

The formula contained in a bill approved by the state House and sent to the governor Wednesday was the product of a bipartisan commission that a year ago recommended a new roadmap for driving out state funds to Pennsylvania schools.

The Pennsylvania School Boards Association hailed passage of the new formula, which it says takes into account a number of factors, including student poverty, adjustments for the costs associated with sparsely populated districts, and local tax efforts.

The PSBA says the new formula will help alleviate disparities in how school dollars are allocated.

Governor Wolf plans to sign the bill, but also says he will continue to press for more school funding.