§ 16-7-39 - Computation of school housing aid ratio. - Rhode Island Statutes

SECTION 16-7-39

   § 16-7-39  Computation of school housingaid ratio. – For each community, the percent of state aid for school housing costs shall becomputed in the following manner:

   (1) The adjusted equalized weighted assessed valuation forthe district is divided by the resident average daily membership for thedistrict (grades twelve (12) and below); (2) the adjusted equalized weightedassessed valuation for the state is divided by the resident average dailymembership for the state (grades twelve (12) and below); (1) is then divided by(2) and the resultant ratio is multiplied by a factor currently set atsixty-two percent (62%) which represents the approximate average district shareof school support; the resulting product is then subtracted from one hundredpercent (100%) to yield the housing aid share ratio, provided that in no caseshall the ratio be less than thirty percent (30%). The resident average dailymembership shall be determined in accordance with § 16-7-22(1).