HB3938 Summary

• Appropriates $98,955,000 total for the Board of Higher Education and Illinois Mathematics and Science Academy for fiscal year ending June 30, 2018: $83,725,000 from General Funds, $4,730,000 from Other State Funds, and $5,500,000 from Federal Funds.

• Allocates $2,743,800 from General Revenue Fund to the Board of Higher Education for ordinary and contingent expenses including personal services, contractual services, travel, and equipment.

• Distributes $60,088,800 from Education Assistance Fund to Board of Higher Education for performance-based grants to public universities.

• Appropriates $18,030,800 from Education Assistance Fund and $3,550,000 from IMSA Income Fund to Illinois Mathematics and Science Academy for operational expenses.

• Act becomes effective July 1, 2017, only if Senate Bill 2063 (the Unbalanced Budget Response Act) becomes law.