§ 16-7-20.5 - Computation of regionalization bonus. - Rhode Island Statutes

SECTION 16-7-20.5

   § 16-7-20.5  Computation of regionalizationbonus. – For each regional school district, a state share shall be computed andmultiplied by the reference year cost, as defined under § 16-7-16(11), ofthe basic program, as defined under § 16-7-16(3). The state share shallequal two percent (2%) for each grade so consolidated for the first two (2)years of operation, diminishing thereafter by one-fourth of one percent ( 1/4%)per grade per year, but in no event shall the increased percentage be less thaneight percent (8%); provided further, that the individual communities in theChariho regional districts shall each receive the applicable increasedpercentage of those grades serviced by the regional school district.Reimbursement payments as calculated under this section shall be made inaccordance with the monthly distribution defined under § 16-7-20(c).