Page 418

House Bill No. 5506

Public Act No. 22-118 418 of 739

its equalization aid grant amount for the previous fiscal year shall be entitled to an equalization aid grant in an amount equal to its equalization aid grant amount for the previous fiscal year plus thirty- three and thirty-three-one-hundredths per cent of its grant adjustment; (2) any town whose fully funded grant is less than its equalization aid grant amount for the previous fiscal year shall be entitled to an equalization aid grant in an amount equal to its equalization aid grant amount for the previous fiscal year minus twenty per cent of its grant adjustment; and (3) any town designated as an alliance district shall be entitled to an equalization aid grant in an amount that is the greater of (A) the amount described in either subdivision (1) of this subsection or subdivision (2) of this subsection, as applicable, (B) its base grant amount, or (C) its equalization aid grant entitlement for the previous fiscal year. (i) For the fiscal year ending June 30, 2027, each town maintaining public schools according to law shall be entitled to an equalization aid grant as follows: (1) Any town whose fully funded grant is greater than its equalization aid grant amount for the previous fiscal year shall be entitled to an equalization aid grant in an amount equal to its equalization aid grant amount for the previous fiscal year plus fifty per cent of its grant adjustment; (2) any town whose fully funded grant is less than its equalization aid grant amount for the previous fiscal year shall be entitled to an equalization aid grant in an amount equal to its equalization aid grant amount for the previous fiscal year minus twenty-five per cent of its grant adjustment; and (3) any town designated as an alliance district shall be entitled to an equalization aid grant in an amount that is the greater of (A) the amount described in either subdivision (1) of this subsection or subdivision (2) of this subsection, as applicable, (B) its base grant amount, or (C) its equalization aid grant entitlement for the previous fiscal year. (j) For the fiscal year ending June 30, 2028, each town maintaining