SB2538 Summary

• Amends the Public Community College Act Section 2-16.02 to change the minimum required combined in-district tuition and universal fee rate from 85% to 70% of the state-average combined rate, effective July 1, 2011.

• Adds an alternative qualification pathway allowing community college districts to meet equalization funding requirements by deriving at least 30% of total revenue from combined in-district tuition and universal fees instead of meeting the 70% rate threshold.

• Maintains existing requirements that community college districts operate at 95% of their maximum authorized operating tax rate to qualify for equalization funding.

• Establishes the Illinois Community College Board Contracts and Grants Fund in the State Treasury to receive grants, awards, endowments, and contract proceeds for distribution to the State Board and community college districts.

• Takes effect July 1, 2010.