The bill amends Section 16-7.2-3 of the General Laws in Chapter 16-7.2 entitled "The Education Equity and Property Tax Relief Act" to establish a permanent foundation education aid formula. The formula includes a core instruction amount based on regional expenditure data and a student success factor to support high-need students. The student success factor, which was previously set at 40%, is increased to 45% of the core instruction per-pupil amount for each child living in poverty, as defined by a family income at or below 185% of federal poverty guidelines. The Department of Elementary and Secondary Education is tasked with developing a new poverty measure that does not rely on school nutrition program administration and is to be used in various calculations related to education aid.

Additionally, the bill introduces a new provision where local education agencies with over 45% of resident children classified as "poverty status" will apply a student success factor of 50% to the core instruction per-pupil amount. The Department of Elementary and Secondary Education is also required to provide an estimate of foundation education aid costs, report updated figures based on average daily membership, and may set aside funds for expanding learning opportunities. The department is further instructed to promulgate necessary regulations to implement the chapter's purposes. The act will take effect upon passage.

Statutes affected:
236: 16-7.2-3