Bill Title: Creates the Adequate and Equitable Public University Funding Act. Provides that, after the effective date of the Act, all general operating expenses for public universities shall be distributed by the Board of Higher Education through a funding formula for eligible public institutions and shall be administered by the Board. Defines "eligible public institution". Sets forth provisions concerning the adequacy targets and resource profiles of eligible public institutions. Provides for the distribution of State appropriations and the calculation of the base funding minimum for each eligible public institution. Provides that the Board shall oversee an accountability and transparency framework for assessing the distribution and use of all funds appropriated by the funding formula and evaluating the funds' effects on institutional outcomes pertaining to student affordability, enrollment, persistence, and outcome metrics. Provides for reporting and the establishment of an Accountability and Transparency Committee. Provides that the Board shall establish a Funding Formula Review Panel tasked with studying and reviewing topics pertaining to the implementation and impact of the funding formula. Contains provisions concerning the Board's annual budget request and the collection of data. Amends the Board of Higher Education Act. Requires the Illinois Community College Board to annually submit its budget request for the next fiscal year by November 15 of the preceding calendar year. Removes certain provisions concerning budget proposals. Effective immediately.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Introduced) 2024-11-21 - Added as Co-Sponsor Sen. Rachel Ventura [SB3965 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2024-10-11	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB3965

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3965 currently on file.

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