AN ACT CONCERNING A PHASE-DOWN IN FUNDING FOR CERTAIN TOWNS THAT CEASE TO BE DESIGNATED AS AN ALLIANCE DISTRICT.

SB 783 changes state education funding rules for towns that stop being designated as "alliance districts." It requires a 20% annual reduction in state funding for any town that was overfunded under the equalization aid formula and loses its alliance district status. This phase-down applies to towns that previously received more state education aid than their share. The bill modifies specific statutes to implement this funding adjustment.