SECTION 1. Section 2 of Chapter 70 of the General Laws is hereby amended by striking the definition of "total state target local contribution” and inserting, in place thereof the following:-
“Total state target local contribution”, the per cent of the total state foundation budget which is to be funded through required local contributions, provided that the per cent shall be specified annually in the general appropriations act but shall not exceed 58 per cent.
SECTION 2. Section 2 of Chapter 70 of the General Laws is hereby amended by striking the definition of "total state target local contribution” and inserting, in place thereof the following:-
“Total state target local contribution”, the per cent of the total state foundation budget which is to be funded through required local contributions, provided that the per cent shall be specified annually in the general appropriations act but shall not exceed 57 per cent.
SECTION 3. Section 2 of Chapter 70 of the General Laws is hereby amended by striking the definition of "total state target local contribution” and inserting, in place thereof the following:-
“Total state target local contribution”, the per cent of the total state foundation budget which is to be funded through required local contributions, provided that the per cent shall be specified annually in the general appropriations act but shall not exceed 56 per cent.
SECTION 4. Section 2 of Chapter 70 of the General Laws is hereby amended by striking the definition of "total state target local contribution” and inserting, in place thereof the following:-
“Total state target local contribution”, the per cent of the total state foundation budget which is to be funded through required local contributions, provided that the per cent shall be specified annually in the general appropriations act but shall not exceed 55 per cent.
SECTION 5. Section 2 of Chapter 70 of the General Laws is hereby amended by striking the definition of "total state target local contribution” and inserting, in place thereof the following:-
“Total state target local contribution”, the per cent of the total state foundation budget which is to be funded through required local contributions, provided that the per cent shall be specified annually in the general appropriations act but shall not exceed 54 per cent.
SECTION 6. Section 2 shall take effect on January 1, 2024.
SECTION 7. Section 3 shall take effect on January 1, 2025.
SECTION 8. Section 4 shall take effect on January 1, 2026.
SECTION 9. Section 5 shall take effect on January 1, 2027.
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