The bill amends Section 16-7.2-5 of the General Laws under "The Education Equity and Property Tax Relief Act" to include specific provisions for funding charter public schools, the William M. Davies, Jr. Career and Technical High School, and the Metropolitan Regional Career and Technical Center. It establishes that if there is a ten percent or greater change in enrollment from the previous year, the last six monthly payments to these schools will be adjusted accordingly. The state share of permanent foundation education aid will be paid directly to these institutions, calculated based on the district of residence's state-share ratio. Additionally, local funding will be calculated based on the local appropriation to education.

The bill removes the previous limitation that capped the reduction to local per-pupil funding at fourteen percent starting in FY 2026, allowing for potentially greater reductions in funding based on the outlined calculations. The act also stipulates that local district payments to these schools will be made quarterly, with the first payment due by August 15. Furthermore, it establishes additional aid for districts with significant charter school enrollment for three years, with decreasing per-pupil amounts over that period. The act is set to take effect upon passage.

Statutes affected:
8581: 16-7.2-5