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 educational programs. Key insertions include provisions for funding excess costs associated with special education, career and technical education, and voluntary pre-kindergarten programs. It establishes a Stabilization Fund for Central Falls, Davies, and the Met Center to ensure adequate support for their students, and outlines state funding for transportation costs related to out-of-district non-public schools and regional school districts. Additionally, the bill introduces a regionalization bonus for public school districts that have been regionalized, incentivizing collaboration among districts.

Moreover, the bill mandates the state to credit or reimburse municipalities for the costs of educating new students resulting from affordable housing developments, effective January 1, 2026. This reimbursement aims to alleviate the financial burden on municipalities that build affordable housing, ensuring they are supported as they accommodate new students. The proposed legislation does not include any deletions from current law but focuses on new provisions to improve educational equity and support municipalities in managing the financial implications of new housing developments on local school systems.