IL HB5161

Expands the definition of "Organizational Unit" under Illinois' evidence-based funding formula to include State-approved charter schools that enroll at least 15% fewer low-income students than the school district where they are located.

Requires the State Board of Education to determine how each funding variable within the evidence-based funding formula must be adjusted to accommodate the inclusion of qualifying charter schools.

Amends Section 18-8.15 of the School Code, which governs Evidence-Based Funding for student success for the 2017-2018 school year and subsequent years.

Takes effect immediately upon becoming law.