093_HB0021

 
                                     LRB093 02331 NHT 02339 b

 1        AN ACT relating to education funding.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  1.  Short  title.   This Act may be cited as the
 5    Fund Education First Act.

 6        Section 5.  Educational appropriations.   Beginning  with
 7    fiscal  year 2004 and in each fiscal year thereafter, subject
 8    to the provisions of Section 10  of  this  Act,  the  General
 9    Assembly shall appropriate for educational programs an amount
10    that is equal to or exceeds the sum of: (1)  the total amount
11    appropriated  from  general  funds  for  educational programs
12    during the fiscal year immediately preceding the fiscal  year
13    for  which  the  appropriation is being made; and (2)  51% of
14    total new general funds available for spending from estimated
15    growth in revenues and funds available  because  of  budgeted
16    program  growth  and decline in the fiscal year for which the
17    appropriation  is  being   made,   excluding   annual   State
18    contributions to the Teachers' Retirement System of the State
19    of   Illinois,   the  Public  School  Teachers'  Pension  and
20    Retirement  Fund  of  Chicago,  and  the  State  Universities
21    Retirement System.

22        Section 10.  State and federal  funding.   State  funding
23    for  educational  programs  shall continue to be appropriated
24    pursuant to the formula established in Section 5 of this  Act
25    until  the  sum  of  State  and  federal  spending represents
26    one-half of the total revenues available from  local,  State,
27    and  federal  sources  for elementary and secondary education
28    programs for the current fiscal year,  as  estimated  by  the
29    State Superintendent of Education.
 
                            -2-      LRB093 02331 NHT 02339 b
 1        Section  15.  Allocation.   Two-thirds of the new general
 2    funds to be appropriated pursuant to clause (2) of Section  5
 3    of   this  Act  shall  be  appropriated  for  elementary  and
 4    secondary  educational  programs  and  one-third   shall   be
 5    appropriated for higher education programs.

 6        Section  20.  Governor's  budget.   Beginning with fiscal
 7    year 2005 and in each fiscal year  thereafter,  the  Governor
 8    shall  include  in his or her annual budget an allocation for
 9    elementary and secondary education and higher education  that
10    conforms to the provisions of this Act.

11        Section  99.  Effective date.  This Act takes effect upon
12    becoming law.