SB3680 Summary

• Requires eight public universities (University of Illinois, Southern Illinois University, Chicago State University, Eastern Illinois University, Governors State University, Illinois State University, Northeastern Illinois University, Northern Illinois University, and Western Illinois University) to transition into nonpublic institutions beginning July 1, 2020.

• Each university's Board of Trustees must develop a 6-year transition plan including the effective date of nonpublic status, appointment of a new governing board, determination of state property to transfer, and employee benefit arrangements.

• Upon completion of transition, each university's Board of Trustees is abolished and all assets, liabilities, property, and records transfer to the new governing board; state authority over the universities ceases and statutory references to them as public institutions no longer apply.

• Creates the Illinois Grant Program requiring the Illinois Student Assistance Commission to award grants to financially needy students enrolled for at least 15 credit hours in any institution of higher learning, beginning with fiscal year 2021-2026 at increasing percentages of the 2020 state university appropriation, reaching 100% by fiscal year 2026.

• Grant recipients must repay 50% of grants if they graduate within 4 years, or full amount over 10 years if not graduating; repayment obligations may be reduced by state residency or forgiven if recipient serves in military or becomes disabled.