2014 -- H 7746 | |
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LC004827 | |
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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 - THE EDUCATION EQUITY AND PROPERTY TAX RELIEF | |
ACT - SCHOOL FUNDING FORMULA | |
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Introduced By: Representatives Tanzi, Canario, Finn, Valencia, and Walsh | |
Date Introduced: February 27, 2014 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Section 16-7.2-7 of the General Laws in Chapter 16-7.2 entitled "The |
2 | Education Equity and Property Tax Relief Act" is hereby amended to read as follows: |
3 | 16-7.2-7. Transition plan. -- (a) The general assembly, shall annually determine the |
4 | appropriation of education aid pursuant to this chapter using a transition plan to begin in fiscal |
5 | year 2012, not to exceed seven (7) years for LEA's for whom the calculated education aid |
6 | pursuant to section 16-7.2-3 is more than the education aid the LEA is receiving as of the |
7 | effective date of the formula, and ten (10) years for LEA's for whom the calculated education aid |
8 | pursuant to section 16-7.2-3 is less than the education aid the LEA is receiving as of the effective |
9 | date of the formula. |
10 | (b) The local share of funding pursuant to section 16-7.2-5 shall be transitioned |
11 | proportionately over a period not to exceed five (5) years. The transition shall provide a |
12 | combination of direct aid to districts, funds for the categorical programs, and district savings |
13 | through state-assumed costs, as determined by the general assembly on an annual basis, Updates |
14 | to any components of the permanent foundation education aid formula, such as student data, |
15 | property values, and/or median family income, that result in an increase or decrease in state |
16 | education aid that impacts the total state and local contribution by more than three percent (3%) |
17 | shall be transitioned over a period of time not to exceed three (3) years. |
18 | (c) Notwithstanding the provisions of subsection (a) of this section, the general assembly |
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1 | recognizes that the LEA’s for whom the calculated education aid pursuant to § 16-7.2-3 is less |
2 | than the education aid the LEA was receiving as of the effective date of the formula has been |
3 | unduly burdensome on said LEA’s. Therefore, for the fiscal years 2015, 2016 and 2017, the |
4 | calculated education aid pursuant to § 16-7.2-3 shall remain the same as in fiscal year 2014. |
5 | 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 - THE EDUCATION EQUITY AND PROPERTY TAX RELIEF | |
ACT - SCHOOL FUNDING FORMULA | |
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1 | This act would freeze the amount of education aid for local school agencies that are |
2 | scheduled to receive less aid under the funding formula. The education aid would be frozen at the |
3 | rate provided in fiscal year 2014 for a period of three years. |
4 | This act would take effect upon passage. |
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