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.

The bill requires the Department of Elementary and Secondary Education to review the student success factor of forty percent (40%) used in the funding formula to determine whether that weight ensures local education agencies receive the necessary funding to meet students' instructional needs. The department must complete its review and report its findings to the governor, the president of the senate, and the speaker of the house by October 1, 2025.

The act will take effect upon passage.

Statutes affected:
192: 16-7.2-3