Modifies provisions of grant program that reimburses eligible costs for school district regionalization feasibility studies.

This bill modifies state aid calculations for school districts participating in regionalization feasibility studies (studies exploring merging school districts). Districts with positive state aid differentials that are actively pursuing regionalization through approved grant programs will have their aid reductions phased more slowly (30% to 100% over years) compared to other districts. To maintain this reduced-rate aid, these districts must hold voter referendums on regionalization within two years of grant approval and secure final voter approval for a regionalization plan within three years. The bill directly affects participating school districts engaged in regionalization studies, altering their state funding adjustments based on their progress toward consolidation.