Illinois General Assembly - Bill Status for SB1373

Amends the School Code. If and only if Senate Bill 1 of the 99th General Assembly becomes law, amends the School Code to provide that the amount of State aid under the new State aid formula for which each school district is eligible shall be no less than the amount of the State aid entitlement that was received by the district under the previous State aid formula for the 2014-2015 school year. Provides that if a school district qualifies to receive a supplementary payment, the amount of State aid under the new State aid formula that the district is eligible to receive for each school year shall be no less than the amount of the State aid entitlement that was received by the district under the previous State aid formula for the 2014-2015 school year. Provides that if a school district is to receive State aid under the new State aid formula for the 2015-2016 school year and any subsequent school year that in any such school year is less than the amount of the State aid entitlement that the district received for the 2014-2015 school year, the school district shall also receive, from a separate appropriation, a supplementary payment that is equal to the amount of the difference in the State aid figures. Effective immediately or on the date Senate Bill 1 of the 99th General Assembly takes effect, whichever is later.

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