SB3886 Summary

• Appropriates $38,787,700 total for the Board of Higher Education's fiscal year ending June 30, 2013, comprising $29,307,700 in General Funds, $3,980,000 in Other State Funds, and $5,500,000 in Federal Funds.

• Allocates $2,776,300 from General Revenue Fund for Board of Higher Education operating expenses including personal services ($2,106,000), contractual services ($495,000), and other ordinary costs.

• Provides $18,216,400 from Education Assistance Fund and $3,050,000 from IMSA Income Fund to the Illinois Mathematics and Science Academy for operations and expenses.

• Establishes grant programs totaling approximately $6,615,000 for initiatives including nursing school grants ($880,000), Diversifying Higher Education Faculty program ($1,640,000), Cooperative Work Study Programs ($1,230,000), and the Grow Your Own Teachers Program ($2,500,000).

• Takes effect July 1, 2012.