The bill amends Section 16-7.2-6 of the General Laws under "The Education Equity and Property Tax Relief Act" to introduce a new section titled "Categorical programs, state funded expenses," which outlines state funding for excess costs related to special education, career and technical education, pre-kindergarten programs, and transportation for students to out-of-district non-public schools. It also establishes a Stabilization Fund for Central Falls, Davies, and the Met Center to ensure adequate support for their students, and mandates the Department of Elementary and Secondary Education to collect data on educational costs exceeding certain thresholds.

A significant change in the bill is the increase of the regionalization bonus for school districts that are regionalized. The bonus is set at six percent of the state's share of foundation education aid for districts that regionalize or are regionalized before July 1, 2025, and it will continue as long as the district remains a regionalized school district. For districts that regionalize after July 1, 2025, the first bonus will be awarded in the first fiscal year following the establishment of the regionalized school district. The previous structure, which included a decreasing bonus over the years, has been replaced with a provision that ensures the bonus remains ongoing and is calculated based on the state's share of foundation education aid. This amendment aims to provide sustained financial support for regionalized school districts.

Statutes affected:
5202: 16-7.2-6