Amends the determination of the state's share statute by amending the calculation for the poverty loss stabilization fund.

Plain-English Summary

This bill makes changes to how Rhode Island calculates state funding for public schools, specifically adjusting a financial safety net called the "poverty loss stabilization fund." This fund is part of the state's school funding formula, which determines how much money the state contributes to each local school district. The stabilization fund is designed to protect school districts from sudden drops in funding that might occur when the number of low-income students in a district changes from year to year.

The bill amends the math used to calculate how much money flows through this stabilization fund. In practical terms, this affects how the state's share of school funding is determined — meaning it could change how much state money individual school districts receive, particularly those serving higher numbers of students living in poverty. Districts that rely heavily on this stabilization support could see their funding levels adjusted depending on how the new calculation works out.

This legislation would primarily affect local school districts across Rhode Island, school administrators who manage district budgets, and ultimately students and families — especially those in lower-income communities where state funding plays a larger role in supporting schools. Taxpayers and local municipalities could also be affected, since changes in state funding levels can influence how much towns and cities need to contribute locally to fund their schools. The bill has been referred to the House Finance Committee, where it will be reviewed before any further action is taken.