The bill amends Section 16-7.2-6 of the Education Equity and Property Tax Relief Act to establish a regionalization bonus for public school districts that are regionalized. This bonus will be set at two percent (2.0%) of the state's share of foundation education aid, effective for the fiscal year beginning July 1, 2025, and continuing in subsequent years. The previous structure of the regionalization bonus, which included a one percent (1.0%) bonus in the second fiscal year and a cessation of the bonus in the third fiscal year, has been removed.

The bill also introduces new provisions regarding state-funded categorical programs, although specific details on these programs are not provided in the summary. The act is set to take effect on July 1, 2025.

Statutes affected:
36: 16-7.2-6