2014 -- H 7039

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LC003155

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2014

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A N   A C T

RELATING TO EDUCATION -- FOUNDATION LEVEL SCHOOL SUPPORT

     Introduced By: Representatives Edwards, Canario, and Guthrie

     Date Introduced: January 09, 2014

     Referred To: House Finance

     It is enacted by the General Assembly as follows:

     SECTION 1. Section 16-7-39 of the General Laws in Chapter 16-7 entitled "Foundation

Level School Support" is hereby amended to read as follows:

     16-7-39. Computation of school housing aid ratio. -- For each community, the percent

of state aid for school housing costs shall be computed in the following manner:

      (1) The adjusted equalized weighted assessed valuation for the district is divided by the

resident average daily membership for the district (grades twelve (12) and below); (2) the

adjusted equalized weighted assessed valuation for the state is divided by the resident average

daily membership for the state (grades twelve (12) and below); (1) is then divided by (2) and the

resultant ratio is multiplied by a factor currently set at sixty-two percent (62%) which represents

the approximate average district share of school support; the resulting product is then subtracted

from one hundred percent (100%) to yield the housing aid share ratio, provided that in no case

shall the ratio be less than thirty percent (30%). Provided, that effective July 1, 2010, and

annually at the start of each fiscal year thereafter, the thirty percent (30%) floor on said housing

aid share shall be increased by five percent (5%) increments each year until said floor on the

housing aid share ratio reaches a minimum of not less than forty percent (40%). This provision

shall apply only to school housing projects completed after June 30, 2010 that received approval

from the board of regents prior to June 30, 2012, except that the town of Tiverton shall

prospectively be reimbursed at the forty percent (40%) floor on the housing aid share ratio on

projects completed before June 30, 2010. Provided further, for the fiscal year beginning July 1,

2012 and for subsequent fiscal years, the minimum housing aid share shall be thirty-five percent

(35%) for all projects receiving board of regents approval after June 30, 2012. The resident

average daily membership shall be determined in accordance with section 16-7-22(1).

     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO EDUCATION -- FOUNDATION LEVEL SCHOOL SUPPORT

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     This act would permit the town of Tiverton to be prospectively reimbursed at the forty

percent (40%) floor on the housing aid share ratio on projects completed before June 30, 2010.

     This act would take effect upon passage.

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