This bill amends Chapter 80 of the Public Laws of 1965, which pertains to the formation of a Regional School District between the Towns of Exeter and West Greenwich, Rhode Island. Key changes include the determination of compensation for committee members, which will now be decided by voters at an all-day referendum instead of a regional school district financial meeting. The composition of the regional district school building committee is reduced from twelve to eight members, with four members from each town. Additionally, the method of selection for committee members is modified, reducing the number of ex officio members and specifying the appointment process for one town council member and two residents from each town.

The bill introduces a phased-in five-year rolling enrollment average for the apportionment of construction and operating costs, starting in the 2023 fiscal year. Each member town's share of costs will be determined based on pupil enrollment, with the calculation method specified for successive years. It also revises the process for amending the agreement, lowering the required petition signature threshold from 10% to 5% of registered voters in a member town. Furthermore, it establishes a charter review subcommittee to evaluate proposed amendments, ensuring equal representation from both towns. The proposed amendments must be approved by both town councils before being presented to voters in an all-day referendum. The act will take effect upon passage.