IL SB1403

Creates an evidence-based Professional Judgment Panel to update a 2010 school finance adequacy study and recommend implementation of an evidence-based adequacy and equity formula for funding all Illinois school districts beginning with the 2016-2017 school year.

Panel shall consist of 5 Education Funding Advisory Board members plus representatives from school administrators, school boards, school business officials, principals, teachers (two organizations), regional superintendents, legislative members, the State Superintendent of Education, parents, and business owners.

Panel must recommend an adequate per pupil cost figure and adequate per pupil local revenue amount based on identifiable education expenses by district type and student population size, including staffing for regular education, special education, English language learners, low-income and gifted students.

Recommendations shall incorporate geographic cost differences and hold-harmless provisions ensuring no district receives less than 2014-2015 school year funding levels, with full funding of equitable and adequate educational opportunity for all students by the 2020-2021 school year.

Panel shall submit final recommendations to the General Assembly by December 1, 2015, with all members serving without compensation.