MADIGAN,MJ-LANG-PHELPS-DAVIS,MONIQUE-BOLAND, HOLBROOK, PUGH, GILES, MCGUIRE, STROGER, YOUNGE, NOVAK. New Act Creates the Fund Education First Act. Beginning with fiscal year 1997, and in each fiscal year thereafter, provides that until the sum of State and federal spending for elementary and secondary education for the fiscal year represents 50% of the total revenues that the State Superintendent of Education estimates are available from local, State, and federal sources for elementary and secondary education for that fiscal year, the amount appropriated by the General Assembly from general funds for educational programs for that fiscal year shall be at least equal to the sum of (1) 50% of total new general funds available for spending from certain sources during that fiscal year, plus (2) the total amount appropriated from general funds for educational programs during the preceding fiscal year. Requires the Governor, beginning with fiscal year 1998, to include in his annual budget an allocation for education that conforms to the provisions of the Fund Education First Act. Effective immediately. FISCAL NOTE (State Board of Ed.) For purposes of this analysis, we are assuming level federal funding, a 4 1/2% increase in state general revenues, a $400 million annual increase in local property tax revnues, and a 2/3 share of funding going to elementary and secondary educa- tion with 1/3 going to higher education. It is also assumed that no fundamental changes are made in our education financing system. Under this scenario, the 50% level for state funding will be reached in the year 2020, with elementary and secondary education revenues reaching $15.8 billion in that year (not cumulative). STATE MANDATES FISCAL NOTE (State Board of Ed.) No change from SBE fiscal note. 97-01-08 H FIRST READING 97-01-08 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-01-15 H ADDED AS A CO-SPONSOR DAVIS,STEVE 97-01-15 H ADDED AS A CO-SPONSOR HOLBROOK 97-01-16 H PRIMARY SPONSOR CHANGED TO MADIGAN,MJ 97-01-16 H ADDED AS A JOINT SPONSOR LANG 97-01-16 H ASSIGNED TO COMMITTEE ELEM SCND ED 97-01-22 H ADDED AS A CO-SPONSOR PHELPS 97-01-22 H ADDED AS A CO-SPONSOR DAVIS,MONIQUE 97-01-23 H ADDED AS A CO-SPONSOR BOLAND 97-02-06 H ADDED AS A CO-SPONSOR PUGH 97-02-06 H ADDED AS A CO-SPONSOR GILES 97-02-06 H ADDED AS A CO-SPONSOR MCGUIRE 97-02-28 H ADDED AS A CO-SPONSOR STROGER 97-02-28 H ADDED AS A CO-SPONSOR YOUNGE 97-03-04 H ADDED AS A CO-SPONSOR BUGIELSKI 97-03-10 H FISCAL NOTE FILED 97-03-10 H STATE MANDATES FISCAL NOTE FILED 97-03-10 H COMMITTEE ELEM SCND ED 97-03-11 H ADDED AS A CO-SPONSOR NOVAK 97-03-21 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary