The bill amends Section 16-7.2-6 of the General Laws under "The Education Equity and Property Tax Relief Act" to redefine the term "extraordinary costs" related to special education students. The new definition specifies that extraordinary costs are those educational expenses that exceed three times the average statewide special education cost, replacing the previous threshold which was based on an amount exceeding four times the core foundation amount. Additionally, the bill mandates that the Department of Elementary and Secondary Education will collect data on educational costs that exceed thresholds of two, three, and five times the core foundation amount.

Furthermore, the bill outlines various categorical programs funded by the state, including support for career and technical education, pre-kindergarten programs, and transportation costs for students attending out-of-district non-public schools. It also establishes a stabilization fund for Central Falls, Davies, and the Met Center to ensure adequate funding for their students. The bill includes provisions for regionalized school districts to receive a regionalization bonus and outlines state support for school resource officers in public middle and high schools. The act will take effect upon passage.