Rhode Island H7318 increases the regionalization bonus to 6% of the state's fiscal year share of foundation education aid for regional school.

Rhode Island H7318 amends the Education Equity and Property Tax Relief Act to increase the state's regionalization bonus to six percent (6%) of the state's fiscal year share of foundation education aid. This bonus applies to regional school districts and is ongoing as long as the district remains regionalized. The act specifies that for districts regionalized before July 1, 2026, the bonus will be 6%, while for those regionalized after July 1, 2026, the bonus will start at 2% in the first fiscal year, 1% in the second, and cease in the third. The act takes effect upon passage.

Rhode Island H7318 increases the regionalization bonus to 6% of the state's fiscal year share of foundation education aid for regional school.

Rhode Island H7318 amends the Education Equity and Property Tax Relief Act to increase the state's regionalization bonus to six percent (6%) of the state's fiscal year share of foundation education aid. This bonus applies to regional school districts and is ongoing as long as the district remains regionalized. The act specifies that for districts regionalized before July 1, 2026, the bonus will be 6%, while for those regionalized after July 1, 2026, the bonus will start at 2% in the first fiscal year, 1% in the second, and cease in the third. The act takes effect upon passage.