SB2040 Summary

• Creates the Student Teaching Fund as a special state treasury fund to receive unused scholarship appropriations from the Minority Teachers of Illinois program at the end of each academic year.

• Establishes a student teaching stipend program administered by the Illinois Student Assistance Commission, providing financial assistance to scholarship recipients who are actively student teaching and demonstrate financial need.

• Stipend amounts and payment schedules are determined by the Commission subject to appropriation from the Student Teaching Fund, with the Commission authorized to establish implementing rules.

• Allows unused scholarship funds to be reallocated to support student teaching stipends rather than reverting to the general revenue fund, providing additional financial support during the critical student teaching phase of teacher preparation.