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Bill > S2373

RI S2373

RI S2373
Amends the Education Equity and Property Tax Relief Act to set the regionalization bonus at 2% of the state's share of foundation education aid for the fiscal year starting July 1, 2026, and for each year thereafter.

summary

Introduced
01/30/2026
In Committee
01/30/2026
Crossed Over
Passed
Dead

Introduced Session

2026 Regular Session

Bill Summary

This act would amend the existing provisions of the Education Equity and Property Tax Relief Act by providing that the annual amount of the regionalization bonus would be two percent (2%) of the state's share of the foundation education aid formula for the fiscal year beginning July 1, 2026 and for each fiscal year thereafter. This act would take effect on July 1, 2026.

AI Summary

This bill amends the Education Equity and Property Tax Relief Act to establish a permanent "regionalization bonus" for public school districts that have consolidated operations, known as being "regionalized." Starting July 1, 2026, and for every fiscal year thereafter, these regionalized districts will receive an annual bonus equal to 2% of the state's share of their foundation education aid. The foundation education aid is a state funding formula designed to ensure a baseline level of support for all public schools, and the "state's share" refers to the portion of that aid provided by the state government. This change modifies existing provisions that previously set a declining bonus over three years, with the bonus ceasing after the second year.

Committee Categories

Budget and Finance

Sponsors (6)

Last Action

Introduced, referred to Senate Finance (on 01/30/2026)

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Document Type Source Location
State Bill Page https://status.rilegislature.gov/
BillText https://webserver.rilegislature.gov/BillText26/SenateText26/S2373.pdf
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