Section 16D of chapter 71 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by adding the following subsection:-

(h)  Notwithstanding the foregoing provisions, a regional school district formed after fiscal year 2013 shall be paid additional regional bonus aid for the immediate 5 fiscal years following the establishment of said regional school district if the formation of the regional school district results in a net loss of chapter 70 aid to the region.  The bonus aid shall be the difference between chapter 70 aid provided to the sum of the school districts composing the geographic region of the regional school district, without a designation as a regional school district, and the chapter 70 aid provided to the newly formed regional district.  In the first fiscal year following the formation of the regional district, bonus aid shall be 100 per cent of the difference; in the second fiscal year following said formation, bonus aid shall be 80 per cent of said difference; in the third fiscal year following said formation, bonus aid shall be 60 per cent of said difference; in the fourth fiscal year following said formation, bonus aid shall be 40 per cent of said difference; and in the fifth fiscal year following said formation, bonus aid shall be 20 per cent of said difference.