IL HB5160

Creates the State-Authorized Charter School Fund as a special fund in the State treasury to provide dedicated funding for charter schools authorized by the State Board of Education.

Funding sources include appropriations from the General Revenue Fund, Education Assistance Fund, Common School Fund, and private donations received by the State Board.

Requires the State Board to distribute funds equally among all State Board-authorized charter schools for school expenses, subject to appropriation.

Prohibits school districts from using their evidence-based funding for expenses of State Board-authorized charter schools located within their boundaries.

Effective July 1, 2026.