The bill amends the Rhode Island Hope Scholarship Pilot Program Act by extending the reporting and disbursement requirements as well as the program's sunset date. Specifically, the amendments involve changing the year from 2028 to 2030 in two sections of the General Laws in Chapter 16-113. The first amendment requires Rhode Island College to submit annual reports detailing various aspects of the scholarship program, such as the number of eligible students, anticipated financial aid, tuition costs, and the total cost to the state, through 2030 instead of 2028. The second amendment requires an annual evaluation report of the program to be submitted to the governor and legislative leaders, also through 2030 instead of 2028. This evaluation includes the number of students in each cohort, degree attainment, program continuation, costs, and recommendations for the program's future.

Additionally, the bill specifies that the Rhode Island Hope Scholarship Pilot Program will be funded through July 1, 2030, with no further funding without action from the General Assembly. The bill emphasizes that any final reports required by the chapter will adhere to the newly set dates. The purpose of the act is to allow the scholarship program to continue providing funding for eligible students' tuition and mandatory fees for an additional two years. The act will take effect upon passage.