The bill amends Section 16-7.2-4 of the General Laws under "The Education Equity and Property Tax Relief Act" to revise the calculation for the state's share of foundation education aid. The new language specifies that the calculation will consider a district's revenue-generating capacity and the concentration of high-need students, using a formula that incorporates the state share ratio and the percentage of students in poverty. Additionally, it mandates that student data from charter and state schools be included in this calculation.

A significant change in the bill is the adjustment of the poverty loss stabilization fund, which now stipulates that districts experiencing a decline in their state share ratio of more than 2% from the previous year will receive an amount equal to seventy-five percent (75%) of the difference in permanent foundation education aid received in the prior year, up from the previous fifty percent (50%). This act will take effect upon its passage.

Statutes affected:
8157: 16-7.2-4