SB2850 Summary

• Amends Illinois School Code Section 18-8.05 to establish the foundation level of per-pupil state financial aid at $6,119 for the 2009-2010 school year and thereafter, subject to increases by the General Assembly.

• Establishes a formula-based system where general state aid to school districts is calculated by subtracting available local resources (from property taxes and corporate personal property replacement taxes) from the foundation level, multiplied by average daily attendance.

• Districts with available local resources below 93% of the foundation level receive full aid; districts between 93% and 175% of foundation level receive aid on a declining linear scale; districts above 175% receive a fixed $218 per pupil payment.

• Provides supplemental state aid grants for school districts with high concentrations of low-income students, with grant amounts varying by poverty concentration level and eligible pupil count.

• For large urban districts (50,000+ students), requires distribution of at least $261,000,000 in aid to individual schools based on the proportion of students eligible for free or reduced-price meals, with detailed plan submission and compliance requirements.