IL HB3197

Board of Higher Education shall provide $5 million (or greater amount if appropriated) in tuition restraint incentives to qualifying public universities.

Universities must certify by August 1, 2014 that they froze tuition and fee rates for resident undergraduate students after August 1, 2013 for 2013-2014 academic year and will not increase rates more than 4.0% for 2014-2015 academic year.

Each university's allocation is calculated by subtracting their reported tuition increase percentage for 2014-2015 from 4.1%, with universities showing less than 0.1% adjustment deemed ineligible.

Universities must report to the Board and General Assembly by August 1, 2014 their tuition and fee revenue, general fund revenue, student financial aid expenditures, total expenditures, and student enrollment for fiscal years 2013-2014 and 2014-2015.

Board of Higher Education has sole authority to determine compliance and may adopt rules necessary to implement the program; effective date is July 1, 2013.