Beginning in 2017, Illinois decision makers replaced one of the least-equitable K-12 public education funding formulas in the country with the Evidence-Based Funding for Student Success Act, or EBF. The EBF commits to implementing best practice in school funding by investing a year-to-year increased Minimum Target Level of $300 million each fiscal year. Illinois met the Minimum Target Level for increased year-to-year state funding of K-12 education in each of the first three fiscal years—FY 2018, 2019, and 2020—during which the EBF was implemented. That streak now stands to be broken, however, as the FY 2021 General Fund Budget, which recently passed, does not increase K-12 funding under the EBF, but rather holds it level with FY 2020.
The Impact of Underfunding the Evidence-Based Funding Formula report analyzes the steps the EBF takes when the Minimum Target Level is not satisfied and how limited or no new Tier funding would impact districts by Tier, income level, race, and geography. The report also analyzes how state funding would be allocated if the state is unable to hold funding level with the prior fiscal year, resulting in a reduction in funding for the EBF.