High School, and the Metropolitan Regional Career and Technical Center.

(b) The local share of education funding shall be paid to the charter public school, Davies,

and the Met Center by the district of residence of the student and shall be the local, per-pupil cost

calculated by dividing the local appropriation to education from property taxes, net of debt service,

and capital projects, as defined in the uniform chart of accounts by the average daily membership

for each city and town, pursuant to § 16-7-22, for the reference year.

(c) Beginning in FY 2017, there shall be a reduction to the local per-pupil funding paid by

the district of residence to charter public schools, Davies, and the Met Center. This reduction shall

be equal to the greater (i) Of seven percent (7%) of the local, per-pupil funding of the district of

residence pursuant to subsection (b) or (ii) The per-pupil value of the district’s costs for non-public

textbooks, transportation for non-public students, retiree health benefits, out-of-district special-

education tuition and transportation, services for students age eighteen (18) to twenty-one (21)

years old, pre-school screening and intervention, and career and technical education, tuition and

transportation costs, debt service and rental costs minus the average expenses incurred by charter

schools for those same categories of expenses as reported in the uniform chart of accounts for the

prior preceding fiscal year pursuant to § 16-7-16(11) and verified by the department of elementary

and secondary education. In the case where audited financials result in a change in the calculation

after the first tuition payment is made, the remaining payments shall be based on the most recent

audited data. For those districts whose greater reduction occurs under the calculation of (ii), there

shall be an additional reduction to payments to mayoral academies with teachers who do not

participate in the state teacher’s retirement system under chapter 8 of title 36 equal to the per-pupil

value of teacher retirement costs attributable to unfunded liability as calculated by the state’s

actuary for the prior preceding fiscal year. Notwithstanding the foregoing, beginning with FY 2026,

the reduction to the local per-pupil funding shall not exceed fourteen percent (14%).

Notwithstanding the foregoing, for FY 2027, the reduction to the local per-pupil funding shall not

exceed fourteen percent (14%), other than for mayoral academies serving students from less than

four local school districts which have been approved as sending districts by the department of

elementary and secondary education. Notwithstanding the foregoing, beginning with FY 2028, the

reduction to the local per-pupil funding shall not exceed fourteen percent (14%).

(d) Local district payments to charter public schools, Davies, and the Met Center for each

district’s students enrolled in these schools shall be made on a quarterly basis in July, October,

January, and April; however, the first local-district payment shall be made by August 15, instead

of July. Failure of the community to make the local-district payment for its student(s) enrolled in a

charter public school, Davies, and/or the Met Center may result in the withholding of state

education aid pursuant to § 16-7-31.

(e) Beginning in FY 2017, school districts with charter public school, Davies, and the Met

Center enrollment, that, combined, comprise five percent (5%) or more of the average daily

membership as defined in § 16-7-22, shall receive additional aid for a period of three (3) years. Aid

in FY 2017 shall be equal to the number of charter public school, open-enrollment schools, Davies,

or the Met Center students as of the reference year as defined in § 16-7-16 times a per-pupil amount

of one hundred seventy-five dollars ($175). Aid in FY 2018 shall be equal to the number of charter

public school, open-enrollment schools, Davies, or the Met Center students as of the reference year

as defined in § 16-7-16 times a per-pupil amount of one hundred dollars ($100). Aid in FY 2019

shall be equal to the number of charter public school, open-enrollment schools, Davies, or the Met

Center students as of the reference year as defined in § 16-7-16 times a per-pupil amount of fifty

dollars ($50.00). The additional aid shall be used to offset the adjusted fixed costs retained by the

districts of residence.

15 (f) [Deleted by P.L. 2023, ch. 79, art. 8, § 2.]