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2012 -- H 7031 | |
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LC00086 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2012 | |
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A N A C T | |
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RELATING TO EDUCATION - FOUNDATION LEVEL SCHOOL SUPPORT | |
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Introduced By: Representatives Edwards, and Reilly | |
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Date Introduced: January 05, 2012 | |
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Referred To: House Finance | |
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It is enacted by the General Assembly as follows: | |
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SECTION 1. Section 16-7-39 of the General Laws in Chapter 16-7 entitled "Foundation |
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Level School Support" is hereby amended to read as follows: |
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16-7-39. Computation of school housing aid ratio. -- For each community, the percent |
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of state aid for school housing costs shall be computed in the following manner: |
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(1) The adjusted equalized weighted assessed valuation for the district is divided by the |
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resident average daily membership for the district (grades twelve (12) and below); (2) the |
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adjusted equalized weighted assessed valuation for the state is divided by the resident average |
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daily membership for the state (grades twelve (12) and below); (1) is then divided by (2) and the |
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resultant ratio is multiplied by a factor currently set at sixty-two percent (62%) which represents |
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the approximate average district share of school support; the resulting product is then subtracted |
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from one hundred percent (100%) to yield the housing aid share ratio, provided that in no case |
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shall the ratio be less than thirty percent (30%). Provided, that effective July 1, 2010, and |
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annually at the start of each fiscal year thereafter, the thirty percent (30%) floor on said housing |
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aid share shall be increased by five percent (5%) increments each year until said floor on the |
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housing aid share ratio reaches a minimum of not less than forty percent (40%). This provision |
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shall apply only to school housing projects completed after June 30, 2010 |
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town of Tiverton shall prospectively be reimbursed at the forty percent (40%) floor on the |
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housing aid share ratio on projects completed before June 30, 2010. The resident average daily |
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membership shall be determined in accordance with section 16-7-22(1). |
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SECTION 2. This act shall take effect upon passage. |
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LC00086 | |
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EXPLANATION | |
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BY THE LEGISLATIVE COUNCIL | |
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OF | |
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A N A C T | |
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RELATING TO EDUCATION - FOUNDATION LEVEL SCHOOL SUPPORT | |
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This act would permit Tiverton to be prospectively reimbursed at the forty percent (40%) |
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floor on the housing aid share ratio on projects completed before June 30, 2010. |
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This act would take effect upon passage. |
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LC00086 | |
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