IL SB2236

Amends the Invest in Kids Act to prohibit tax credits when the state fails to meet its minimum statutory funding level for public schools.

Requires the State Board of Education to determine by August 1 annually whether the Minimum Funding Level under Section 18-8.15 of the School Code has been met for each fiscal year.

State Board of Education must transmit its funding level determination to the Department of Revenue, with supplemental notification if the minimum funding level is met after the August 1 deadline.

Suspends the carry-forward period for excess credits under the Act for any taxable year that begins in a fiscal year when the Minimum Funding Level is not met.

Takes effect immediately upon becoming law.