AN ACT AMENDING THE DEFINITION OF EQUALIZED NET GRAND LIST FOR PURPOSES OF THE EDUCATION COST-SHARING GRANT FORMULA.

SB 870 revises Connecticut's education grant formula by changing how a town's property value is measured for funding calculations. It requires that towns ranked in the top 35% of property value (highest 65th percentile) and bottom 20% of median household income have their property value figure reduced when calculating state education grants. This adjustment directly affects qualifying towns, altering the metric used to determine their grant amount. The bill modifies the grant calculation for this specific group without changing the overall structure of the education cost-sharing program.