The bill establishes a new chapter in Title 16 of the General Laws, titled "Postsecondary Tuition Assistance for Shortage Teaching Fields." It creates a restricted receipt account known as the Shortage Teaching Fields Tuition Assistance Fund, which will provide financial assistance to eligible individuals attending Rhode Island postsecondary institutions in programs aimed at addressing critical educator shortages in specific subject areas, including but not limited to sciences and mathematics for grades seven through twelve. The fund will cover tuition and other necessary costs of attending these institutions.

Eligibility criteria for recipients include being enrolled or accepted for enrollment in a relevant program, completing a service requirement of at least three years of full-time teaching in a shortage teaching field in the state, and fulfilling any additional conditions required by the Office of the Postsecondary Commissioner (OPC). Recipients will not be required to submit SAT or Advanced Placement (AP) test scores for admission to the teaching degree program and are not mandated to be Rhode Island residents.

If a recipient fails to complete their degree or the service requirement, the tuition assistance provided will convert into a loan that must be repaid. The bill also allows for individuals to transfer between postsecondary institutions in Rhode Island without negatively affecting their eligibility for tuition assistance, provided they remain compliant with all other eligibility requirements.

The OPC will administer the fund, promulgate necessary rules and regulations, and report annually on the fund's effectiveness, including the number of approved requests for tuition assistance, the total dollar amount disbursed, the shortage teaching areas for which assistance was provided, and the names of the postsecondary institutions attended by recipients. The act will take effect upon passage.