SECTION 1. Section 2 of chapter 70 of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by striking out the definitions of “Assumed in-school special education enrollment” and “Assumed tuitioned-out special education enrollment”, and inserting in place thereof the following definitions:-

“Assumed in-school special education enrollment”, 4 per cent of total foundation enrollment in a district not counting vocational or preschool enrollment, plus 5 per cent of vocational enrollment.

“Assumed tuitioned-out special education enrollment”, 4 times the statewide foundation budget per-pupil amount less the statewide foundation budget per-pupil amount plus out-of-district special education cost rate; provided, that effective for state fiscal year 2017 such value shall become the base rate and shall be increased by the positive difference by a percentage amount equal to the percentage rise in the United States Consumer Price Index for January first of that year over the level of said Index for January first of the previous year.

SECTION 2. Section 2 of said chapter 70, as so appearing, is hereby amended by striking out the definition of “Foundation benefits”, and inserting in place thereof the following definition:-

“Foundation benefits”, the amount allotted within a district’s foundation budget for the purchase of retired employee health insurance, employee benefits and other insurance in any fiscal year. The foundation benefits shall be the sum of the following:

(a) $4,320 multiplied by the wage adjustment factor multiplied by the sum of the foundation teaching staff, the foundation support staff, the foundation assistants, the foundation principals, the foundation clerical staff, the foundation health care staff, the foundation central office professional staff and the foundation custodial staff; plus

(b) $460 multiplied by the sum of the foundation teaching staff, the foundation support staff, the foundation assistants, the foundation principals, the foundation clerical staff, the foundation health care staff, the foundation central office professional staff and the foundation custodial staff; plus

(c) $230 multiplied by the foundation vocational staff; plus

(d) the fiscal year per capita cost of retired employee health insurance

SECTION 3. Section 2 of said chapter 70, as so appearing, is hereby amended by inserting after the definition of “Foundation benefits” the following definition:-

“Employee health insurance”, the average group insurance commission rate adjusted by any increase in such rate; provided, that the group insurance commission shall annually, on or before June 30, provide the department of education with data necessary for the determination of such rate or any increase thereof.

SECTION 4. Notwithstanding the provisions of any general or special law to the contrary, the secretary of administration and finance and the house and senate committees on ways and means shall jointly determine an implementation schedule to fulfill the recommendations of the foundation budget review commission’s final report filed on November 2, 2015. The implementation schedule shall establish a foundation budget as defined in section 2 of said chapter 70 incorporating the provisions of sections 1, 2 and 3 of this act over a period of 7 fiscal years. Said schedule of implementation shall not exceed 7 fiscal years and shall in each fiscal year set the appropriation required to fully fund the foundation budget incorporating the aforementioned provisions of this act by fiscal year 2024 in equal increments for each fiscal year. The schedule may be amended by agreement of the senate and house ways and means committees in any of the 7 fiscal years to reflect changes in enrollment, inflation, student populations, or other factors that would affect the remaining costs in the schedule; provided, however, that the final year of the schedule shall not surpass fiscal year 2024, but the schedule may be fully implemented prior to fiscal year 2024.