The University of Illinois is planning to try again for full state funding in fiscal 2018, which it hasn't seen since 2015.
The Champaign News-Gazette reports the university is also focusing on its efforts for a multiyear budget arrangement with Illinois. It plans to announce legislation next week that would provide five years of guaranteed funding in exchange of hitting certain educational benchmarks.
The university would also get regulatory relief and procurement reform, which faculty members have requested to accelerate the process of buying research equipment and other materials.
University president Tim Killeen said during his annual meeting with faculty Monday that the institution has lost over $750 million in state funding in the last two years.
University officials are scheduled to roll out the proposed new contract with the state at its board of trustees' meeting Nov. 10.