Bill > HB1581

This bill creates the Adequate and Equitable Public University Funding Act, which establishes a comprehensive new funding formula for public universities in Illinois. The bill aims to address historical inequities in higher education funding by creating a more transparent and equitable approach to distributing state appropriations. Key provisions include creating a detailed funding model that calculates an "adequacy target" for each eligible public institution based on factors like student population, institutional mission, and support needs for underserved students. The formula considers various components such as access support, academic and nonacademic support, instructional program costs, research needs, and institutional operations. A unique aspect of the bill is its focus on equity, with additional funding adjustments for institutions serving students from groups with historically lower enrollment, retention, and completion rates. The bill establishes an Accountability and Transparency Committee to oversee the implementation of the funding formula and a Funding Formula Review Panel to continuously study and recommend improvements to the funding model. The legislation also requires annual reporting on institutional performance metrics, including student affordability, enrollment, retention, and graduation rates, with the goal of providing more stable and strategic funding that supports diverse student populations and helps close educational opportunity gaps across Illinois' public universities.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1581&GAID=18&DocTypeID=HB&SessionID=114&GA=104