Public schools downstate are getting almost twice as much new money from the State after the passage of the new school funding formula.
We recently spoke with State Senator Dale Righter in regards to school funding following the passage of the new school funding formula. After Governor Rauner’s amendatory veto of the original school funding plan and the Senate override in August, a new school funding formula was passed at the beginning of this month. The new funding formula removed the Chicago Public School block grant and added a tax credit program.
The Chicago Public School block grant was a $250 million line item that was strictly for Chicago Public Schools. Additionally, the Chicago Public Schools retired teacher’s pension fund was included in the original school funding plan. These items were removed from the newly passed formula. Legislators also created a new tax credit program that gives a 75% tax credit to those that donate to scholarships in areas where public schools are failing. According to Righter, these revisions are a win for schools in the area.
Listen below for the full interview with Senator Righter.