Illinois Budget

ANALYSIS OF SB 1947 (Public Act 100-0465): The Evidence-Based Funding for Student Success Act

Release: October 10, 2017

On Thursday, August 31, 2017, the people of Illinois woke up in the state that had the worst—as in least equitable—K-12 public education funding formula in the country. That night they went to bed in the state that had the best. This historic transformation happened because that afternoon, Governor Bruce Rauner signed Senate Bill (SB) 1947—which became Public Act (P.A.) 100-0465—into law. This breakthrough legislation incorporates the full “evidence-based model” (EBM) of school funding previously contained in SB 1.

Pension Changes in the FY2018 Budget: Short-Term Savings and Long-Term Costs

Release: October 10, 2017

The changes made to Illinois public pension systems in Public Act (PA) 100-0023 (introduced as Senate Bill 42), the Budget Implementation Act, or BIMP, passed on July 6, 2017, and include two primary elements. First, the BIMP creates a new Tier 3 level of benefits for public sector workers. Second, the BIMP permits the state to smooth out the fiscal impact of the actuarial reduction in the assumed rate of return generated by the state’s five pension systems.

New Details Emerge on Illinois' "Tier 3" Pension Plan

Release: September 27, 2017

Illinois' fiscal year 2018 budget introduced major changes to the state's public pension systems in an attempt to grapple with Illinois' roughly $130 billion in unfunded liabilities. One of the most important aspects of these changes was a new package of benefits. This new package, called "Tier 3," introduced a hybrid defined benefit-defined contribution plan in addition to the defined benefit plans of Tier 1 and Tier 2.

Governor Rauner’s Amendatory Veto of SB1 Artificially Inflates the Equalized Assessed Value of Most School Districts—Thus Under- Funding the Classroom

Release: August 7, 2017

CTBA analysis shows that school districts around the state would see their funding threatened by Governor Bruce Rauner's amendatory veto of Senate Bill 1, the Evidence Based Model for School Funding Reform.

Senate Bill 1124—An Inequitable Alternative to SB 1

Release: June 30, 2017

This report analyzes some of the major differences between SB1, the "Evidence-Based Funding for Student Success Act" that passed both chambers of the General Assembly; and SB1124, an alternative education funding reform bill sponsored by Senator Jason Barickman.

It finds that SB1 does not favor any school district-it does not create any special "bailout" of CPS-and instead creates a proportional, equitable distribution of new state funding for K-12 education.

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