The resolution proposes the establishment of a special joint legislative commission tasked with conducting a comprehensive study of Rhode Island's education funding formula and education finance system. This initiative arises from the recognition of significant changes in enrollment patterns and student needs since the current funding formula was adopted in 2010, alongside rising operational costs and fiscal pressures on school districts.

The commission will consist of 16 members, including legislators, education leaders, and representatives from various educational and financial organizations. Its objectives include assessing the feasibility of implementing recommendations from the Rhode Island Foundation's Blue Ribbon Commission on Education Funding, evaluating the adequacy and equity of the current funding formula, and proposing modifications to better align with the educational and fiscal needs of the state and municipalities.

Additionally, the commission will develop a transition plan for implementing these recommendations over a maximum of five fiscal years. The commission is required to submit an interim report by March 2, 2027, and a final report by September 1, 2027, after which it will dissolve on December 1, 2027.