RI H7388

Establishes a high-cost special education fund allowing municipalities to voluntarily pool financial resources to cover unanticipated expenses for students requiring high-cost special needs instruction

Fund will be housed within and managed by the Office of the General Treasurer, who will invest contributions to generate income for covering excess special education costs

Department of Elementary and Secondary Education will determine awards based on district-specific needs, with criteria considering the municipality's total contributions to the fund

Municipalities must contribute to the fund in a fiscal year prior to the year in which they apply for an award; initial contribution must equal the municipality's high-cost special education expenses from the prior fiscal year

Takes effect upon passage