Vote Smart's Synopsis:

Vote to amend and pass a bill that appropriates funding for K-12 school aid and higher education.

Highlights:

• Appropriates funds for the public schools of this state and certain other state purposes relating to education the sum of $100.00 from the state school aid fund, the sum of $100.00 from the general fund, an amount not to exceed $100.00 from the community district education trust fund (Sec. 11-1).

• Specifies money appropriated under this law from the general fund must be expended to fund the purposes of this article before the expenditure of money appropriated under this section from the state school aid fund (Sec. 11-2).

• Establishes any general fund allocations under this article that are not expended by the end of the fiscal year are transferred to the school aid stabilization fund (Sec. 11-3).

• Requires the department to prepare electronic files of the amount to be distributed under this act in the installment to the districts and intermediate districts and deliver the electronic files to the state treasurer, and the state treasurer to pay the installments on each of those dates or, if the date is not a business day, on the next business day following that date (Sec. 17.b-1).

• Requires the state treasurer to make payment by drawing a warrant in favor of the treasurer of each district or intermediate district for the amount payable to the district or intermediate district according to the electronic files and delivering the warrant to the treasurer of each district or intermediate district, or if the state treasurer receives a written request by the treasurer of the district or intermediate district specifying an account, by electronic funds transfer to that account of the amount payable to the district or intermediate district according to the electronic files (Sec. 17.b-2).

• Requires grant payments to districts and intermediate districts to be paid according to the installment payment schedule (Sec. 17.b-3).

• Establishes an advance must not cause funds to be paid to a district or intermediate district more than 30 days earlier than the established payment date for those funds (Sec. 17.b-4).

Full Bill Text