School Funding Formula

The Illinois state comptroller is releasing $350 million to public school districts statewide as part of the newly approved education-funding overhaul.

The state Illinois will finally begin sending local school districts more than $350 million dollars to equalize school funding.  The funds, set to go out next week, come as the result of the reform battle waged in the General Assembly over the past several years.

Governor Bruce Rauner has signed what education officials say is the final law needed to make major changes to the way Illinois funds public schools.

One promise heard repeatedly during debate over the state's new school funding plan was "no red numbers," meaning any legislation that would make a district lose money was dead on arrival.

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Chicago Tribune

Governor Bruce Rauner has approved a major change in the way Illinois funds public schools.

He signed the bipartisan legislation at a school in Chicago, calling it a historic achievement.

A pair of southern Illinois lawmakers says Democratic leaders need to send Governor Rauner the education funding formula measure he promises to veto.

Lawmakers approved a state budget more than a week ago, but that legislation requires enactment of a new school-funding plan.