Page 419

House Bill No. 5506

Public Act No. 22-118 419 of 739

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 fully funded grant; (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 thirty- three and thirty-three-one-hundredths 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. [(f)] (k) For the fiscal [years ending June 30, 2028, and] year ending June 30, 2029, 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 [base grant amount] equalization aid grant amount for the previous fiscal year shall be entitled to an equalization aid grant in an amount equal to its fully funded grant; [and] (2) any town whose fully funded grant is less than its [base grant amount] 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 [eight and thirty-three-one-hundredths] fifty per cent of its grant adjustment; [, except any such town designated as an alliance district shall be entitled to an equalization aid grant in an amount equal to its base grant amount] 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