Amends the Education Equity and Property Tax Relief Act to set the regionalization bonus at 2% of the state's share of foundation education aid for the fiscal year starting July 1, 2026, and for each year thereafter.
SB 2073 exempts Community MusicWorks' real and tangible personal property (such as buildings and equipment) in Providence from local property taxes. This targeted exemption adds the nonprofit arts organization to Rhode Island's list of tax-exempt entities under Chapter 44-3. The bill amends existing tax law to specifically include Community MusicWorks, directly affecting its property tax obligations. The change applies only to this organization and its physical assets in Providence.
SB 2233 establishes specific new funding categories to support school districts across Rhode Island. It provides state reimbursement for excess costs in special education (above a set threshold), career and technical education programs, pre-kindergarten access, and transportation for students attending out-of-district non-public schools. The bill also creates stabilization funds for Central Falls, Davies, and the Met Center schools, and offers regionalized school districts a temporary bonus (2% then 1% of state funding share) for their first two fiscal years. School districts seeking these funds must meet criteria set by the Department of Education, and funds are prorated if demand exceeds available appropriations.
HB 7420 updates how state education funding is calculated to address inequities, primarily affecting school districts with high numbers of students in poverty. It introduces a new formula that factors in a district's revenue capacity and poverty levels to determine state aid, with a poverty loss stabilization fund for districts seeing aid drops over 2%. The bill also creates specific state-funded programs for special education costs, career and technical education, pre-K access, and stabilization for districts like Central Falls, Davies, and the Met Center. It requires the state to publish a report identifying unfunded district costs and share this with lawmakers and the public. These changes aim to adjust funding based on need while adding targeted support for specific educational programs and struggling districts.
Permits every municipality in the state to offer a homestead tax exemption of up to 20% of assessed value on residential properties, and also provides that municipalities that grant greater exemptions not be limited by this section.
Provides that a school district could elect and choose to not spend money on any mandate that is not fully funded through the state education aid formula.
Mandates public schools (K-12) have one full-time certified social worker for every 250 students and allocates $2 million in the Fiscal Year 2025 budget for school districts and municipalities to hire additional social workers.
Prohibits total education aid paid to any local education agency from being reduced by more than one percent (1%) of the municipal education appropriation in the previous fiscal year.
Places a cap of twenty percent (20%) on increases in consecutive revaluations of real property in all cities and towns conducting revaluations commencing December 31, 2026, and every December 31 thereafter.
Amends State funding calculations for special education, revising extraordinary cost calculations for FY 2028-2029, and providing additional funds for excess costs when special education students move into a district after the budget is approved.
