The bill amends Section 16-7.2-6 of the General Laws under "The Education Equity and Property Tax Relief Act" to enhance state funding for various educational programs. Key insertions include provisions for categorical programs that cover excess costs associated with special education, career and technical education, access to pre-kindergarten programs, and transportation costs for students attending out-of-district non-public schools. Additionally, it establishes a Stabilization Fund for Central Falls, Davies, and the Met Center to ensure adequate funding for their students, and outlines a regionalization bonus for public school districts that have been regionalized.

Significant deletions from the current law include the removal of language that mandates the Department of Elementary and Secondary Education to prorate funds among school districts when total approved costs exceed available funding. The bill also eliminates the requirement for funding categorical programs to follow a transition plan outlined in § 16-7.2-7. Overall, the act aims to streamline funding processes and provide more direct support to educational institutions, taking effect immediately upon passage.