The bill amends Section 16-7.1-5 of the General Laws concerning the Paul W. Crowley Rhode Island Student Investment Initiative, focusing on intervention and support for failing schools. It mandates the board of regents to implement progressive support strategies for schools that do not meet performance goals, including technical assistance, policy support, and resource oversight. If no improvement is observed after three years, the Department of Elementary and Secondary Education may take control over the school or district's budget, programs, and personnel, potentially leading to reconstitution of the school. The local school committee's funding responsibility is modified to require funding at the same nominal amount as the previous year, increased by 20% of the municipal tax increase, rather than the previous method tied to state school aid increases.

Additionally, the bill introduces the role of a fiscal overseer appointed by the director of revenue for schools under the board of regents' control. This overseer will supervise financial activities, advise relevant officials, review contracts, monitor expenditures, approve budgets, and report monthly to various stakeholders on the use of funds. The bill also removes the authority of the commissioner of elementary and secondary education to withhold funds from local communities through the general treasurer. Overall, the act aims to enhance accountability and support for struggling schools while ensuring local funding contributions are manageable. The act will take effect upon passage.

Statutes affected:
663: 16-7.1-5