IL HB5140

Amends the Higher Education Student Assistance Act to require the Illinois Student Assistance Commission to set aside 15% of total annual Monetary Award Program funds for grants to students attending public community colleges in Illinois.

Grants under the program remain limited to tuition and necessary fees, with maximum amounts ranging from $5,468 to $6,468 depending on fiscal year and availability of funds.

Establishes priority deadline dates for renewing applicants starting with the 2020-2021 academic year, guaranteeing grants to those who apply by the deadline and continue to meet eligibility requirements, subject to appropriation.

Continues existing eligibility requirements including Illinois residency, U.S. citizenship or permanent residency, and demonstrated financial need.

Takes effect immediately upon becoming law.