The bill amends Section 16-7.2-3 of the General Laws under "The Education Equity and Property Tax Relief Act" to establish a permanent foundation education aid formula. This formula will calculate foundation education aid for each district based on a core instruction amount and additional support for high-need students. The core instruction amount will be derived from regional expenditure data and updated annually, while the support for high-need students will include a student success factor for those from low-income families and a multilingual learner factor. The bill mandates the Department of Elementary and Secondary Education to develop a new poverty measure that does not rely on school nutrition programs and to report on the funding needs for multilingual learners.

Additionally, the bill introduces a new requirement for the Department to review the student success factor of forty percent to ensure that local education agencies receive adequate funding to meet students' instructional needs. This review must be completed by October 1, 2025, and the findings reported to key legislative leaders. The act will take effect upon passage, aiming to enhance the support for high-need students and improve the overall education funding framework.

Statutes affected:
192: 16-7.2-3