Introduced By: Senator J. Michael Lenihan
Date Introduced : February 9, 1999
It is enacted by the General Assembly as follows:
SECTION 1. Chapter 16-7.1 of the General Laws entitled "The Rhode Island Student Investment Initiative" is hereby amended by adding thereto the following section:
{ADD 16-7.1-18. Funding of investment funds. -- ADD} {ADD Funding of the investment funds enumerated in section 16-7.1-6, 16-7.1-8, 16-7.1-9, 16-7.1-10, 16-7.1-11 and 16-7.1-12 shall be by funds set aside from the state operations aid to be provided to school districts in the same manner as funds set aside and provided to school districts pursuant to Chapter 67 of Title 16 for literacy programs. The amount to be set aside will be that amount designated for each investment fund in the state budget as enacted. The funds thus set aside and provided to school districts shall be restricted to be used for the purposes required by the terms of section 16-7.1-6, 16-7.1-8, 16-7.1-9, 16-7.1-10, 16-7.1-11 and 16-7.1-12. The full set aside amount will be available for use by the school district. Use of this set aside amount is restricted to the purposes enumerated above and must be based on the strategic plan required to be submitted by local school districts to the department of elementary and secondary education by the provisions of this chapter. ADD}
SECTION 2. This act shall take effect upon passage.
