HB0300 Summary

• Amends Section 16-158 of the Illinois Pension Code to add new subsection (g-20) excluding salary increases necessary to bring school boards into compliance with Public Act 101-443 or this amendatory act from triggering employer pension contribution payments under the 6% salary increase threshold.

• Modifies Section 24-8 of the School Code to establish minimum teacher salaries of $32,076 (2020-2021), $34,576 (2021-2022), $37,076 (2022-2023), and $40,000 (2023-2024), with automatic adjustments thereafter based on Consumer Price Index increases.

• Requires the Commission on Government Forecasting and Accountability to certify and publish the adjusted minimum salary rate by September 30, 2023 for the 2024-2025 school year, and annually by July 20 thereafter.

• Changes the CPI calculation period to use the 12-month period ending June 30 of the school year that ended 12 months prior, rather than the previous school year.

• Removes the requirement for General Assembly review of minimum salary rate adjustments, making the CPI-based increases automatic.