SB3632 Summary

• Appropriates $12.6 billion total to the Illinois State Board of Education for fiscal year beginning July 1, 2014, comprised of $9.58 billion in General Funds, $64.7 million in Other State Funds, and $2.97 billion in Federal Funds

• Allocates $3.75 billion from the Common School Fund for General State Aid including foundation level grants ($2.15 billion), property tax extension limitation adjustments ($132.6 million), and supplemental low-income grants ($1.47 billion)

• Appropriates $1.6 billion for special education services, disabled student services, transportation reimbursement, and other categorical aid programs restricted to non-administrative purposes

• Includes $2.09 billion in federal education grants for Title I, special education (IDEA), child nutrition, teacher training, and other federally-funded programs

• Appropriates $3.53 billion for teacher retirement contributions to the Teachers' Retirement System and Chicago public school teachers' pension funds, plus $101 million for teacher health insurance