HB 4407 Summary

• Changes the fiscal year reference from September 30, 2021 to September 30, 2022 for school aid appropriations under the State School Aid Act of 1979.

• Reduces appropriations to $100.00 each from the state school aid fund, general fund, and community district education trust fund, and removes the water emergency reserve fund reference (a zero-dollar budget approach).

• Maintains that all available federal funds remain appropriated for the fiscal year ending September 30, 2022.

• Updates statutory language in Section 17b by replacing "shall" with "must" throughout the payment distribution provisions for consistency with modern drafting standards.

• Preserves the payment schedule requiring the state treasurer to distribute school aid installments on the 20th of each month (or next business day) in equal 1/11 portions to school districts and intermediate districts.