Raised Bill No. 5002 proposes comprehensive amendments to the education funding structure in Connecticut, particularly focusing on special education and early childhood programs. The bill introduces a new definition of "Foundation" in section 10-262f, establishing a foundation amount of $11,525 for fiscal years 2014 through 2026, with annual adjustments starting in 2027 based on personal income or inflation. It also modifies section 10-252a to update definitions and funding calculations for interdistrict magnet schools, incorporating factors such as student eligibility for free or reduced-price meals and English language learners. The bill outlines a phased reduction in the percentage of students considered for funding, aiming to enhance the overall funding framework while reflecting economic changes.

Additionally, the bill revises the tuition structure for interdistrict magnet schools and preschool programs, capping tuition rates and gradually reducing them over the next several fiscal years, ultimately eliminating tuition charges by 2030 for certain programs. It mandates that interdistrict magnet school operators cannot charge tuition for preschool programs starting in 2030 and ensures that families with incomes at or below 75% of the state median income are exempt from tuition. The bill also establishes new funding mechanisms for state charter schools and special education services, emphasizing equitable access and support for students. Overall, Raised Bill No. 5002 aims to streamline funding processes and enhance educational opportunities for children in Connecticut.