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 for local educational agencies. This formula will calculate foundation education aid based on a core instruction amount and includes additional support for high-need students. The student success factor for high-need students is increased from forty percent (40%) to forty-five percent (45%). Furthermore, if more than forty-five percent (45%) of resident children in a local education agency are classified as having a family income at or below one hundred eighty-five percent (185%) of federal poverty guidelines, the student success factor will be adjusted to fifty percent (50%) by the core instruction per-pupil amount.

The act takes effect upon passage.

Statutes affected:
5978: 16-7.2-3