HB4492 Summary

• Amends the School Code to require the General Assembly to appropriate sufficient funds each fiscal year to fully fund all incentive payments required under Section 11E-135 for school district reorganizations and annexations.

• Mandates state funding for supplementary payments to reorganized districts over their first 4 years of existence, including general state aid differences, salary adjustments, and fund balance deficits.

• Establishes eligibility and payment structures for various district reorganization types including combined districts, unit districts, conversions, partial elementary unit districts, and annexations with 90% or greater enrollment increases.

• Specifies that supplementary state aid payments ($4,000 per full-time certified employee) are separate from all other state payments and must be calculated based on district quintile rankings by equalized assessed value and average daily attendance.

• Effective immediately upon passage.