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 finance system. This initiative is in response to significant changes in enrollment patterns and student needs since the current funding formula was adopted in 2010, as well as rising operational costs and fiscal pressures on school districts.

The commission will consist of fifteen members, including legislators, education leaders, and representatives from various educational and financial organizations. Its objectives include assessing the adequacy and equity of the current funding formula, developing recommendations for modifications, and proposing a transition plan for implementation over a maximum of five fiscal years.

The commission is required to submit a final report of its findings no later than September 1, 2027, and will dissolve on December 1, 2027. It may also engage with stakeholders and seek input from community members and experts to inform its findings and recommendations.