Massachusetts S440 amends Chapter 70 to address inflation relief for public schools.
Massachusetts S440 revises Chapter 70 to establish a "Foundation Inflation Index" and create the School Budget Stabilization Fund. If the index exceeds 1.045, the Department of Elementary and Secondary Education must submit a plan to restore funding lost to inflation. The fund will be used to provide financial relief to school districts affected by past inflation. The commissioner must report annually on grants made under this program.
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