The bill amends Section 45-13-1 of the General Laws in Chapter 45-13, titled "State Aid," to reinstate general revenue sharing of state aid among the thirty-nine cities and towns in Rhode Island. It introduces new provisions that specify the total amount of aid for the fiscal year ending June 30, 2026, to be thirty-nine million dollars ($39,000,000), allocated based on population as determined by the 2020 census. Additionally, starting from the fiscal year ending June 30, 2027, the aid will be increased annually by the total percentage increase in the Consumer Price Index for all Urban Consumers (CPI-U).

The bill also includes deletions from previous provisions regarding the calculation of aid amounts for earlier fiscal years, specifically removing outdated references to specific percentages of state tax revenues for fiscal years ending in 1994 through 2008. This streamlining aims to reflect current economic conditions and census data. The act is set to take effect upon passage, providing a more equitable distribution of state aid to local governments.

Statutes affected:
5533: 45-13-1