The bill establishes the Warwick Public Schools Budget Commission to oversee the financial management of the Warwick school district during periods of financial distress. The commission will consist of five members: three designees from the mayor with the advice and consent of the city council, one designee from the Warwick superintendent of schools, and one designee from the chair of the Warwick school committee. One of the mayoral designees will serve as the chairperson.

The commission will have the authority to approve school budget appropriations, formulate and execute the annual school budget, implement uniform budget guidelines, and develop a three-year operating and capital financial plan within 120 days of its appointment to achieve fiscal stability. The commission is also empowered to employ necessary staff, adopt operational rules, and compel audits or assessments.

The commission will remain in effect until two conditions are met: the approval of the FY 2025-2026 Warwick school budget as recommended by the mayor and approved by the city council, and the adoption of a deficit reduction plan approved by the auditor general.

The bill includes provisions that exempt the commission from rejecting or altering collective bargaining agreements, hiring or terminating school department personnel, and impacting projects funded by bond proceeds. Additionally, it provides immunity from civil liability for commission members and staff for actions taken in the course of performing their official duties.