AN ACT RELATING TO EDUCATION -- THE EDUCATION EQUITY AND PROPERTY TAX RELIEF ACT

SB 2551 revises how the state calculates education funding for school districts, using a new formula that considers both a district's revenue capacity and the percentage of students in poverty (specifically for districts with over 50% poverty). It creates a "poverty loss stabilization fund" to support districts experiencing a significant drop (more than 2%) in their state funding share, and requires the state to publish an annual report identifying unfunded district costs. The bill also allocates new state funds for special education, career and technical education programs, pre-kindergarten access, and specific stabilization support for Central Falls, Davies, and the Met Center school districts. Additionally, it provides direct state funding for transportation costs for students attending non-public schools and within regional school districts.