Adequate and Equitable Public University Funding Act (SB 3965)

State Representative Carol Ammons at the November 14th, 2024 listening session on Senate Bill 3965 at the University of Illinois Urbana-Champaign’s Illini Union.

 
 
“The funding system for higher education in Illinois is broken - we are determined to fix it. Senate Bill 3965 will lower costs for students, make college accessible, and support all of our state’s public universities.”
— State Representative Carol Ammons

What’s in the bill? read the summary below:

Creates the Adequate and Equitable Public University Funding Act. Provides that, after the effective date of the Act, all general operating expenses for public universities shall be distributed by the Board of Higher Education through a funding formula for eligible public institutions and shall be administered by the Board. Defines "eligible public institution". Sets forth provisions concerning the adequacy targets and resource profiles of eligible public institutions. Provides for the distribution of State appropriations and the calculation of the base funding minimum for each eligible public institution. Provides that the Board shall oversee an accountability and transparency framework for assessing the distribution and use of all funds appropriated by the funding formula and evaluating the funds' effects on institutional outcomes pertaining to student affordability, enrollment, persistence, and outcome metrics. Provides for reporting and the establishment of an Accountability and Transparency Committee. Provides that the Board shall establish a Funding Formula Review Panel tasked with studying and reviewing topics pertaining to the implementation and impact of the funding formula. Contains provisions concerning the Board's annual budget request and the collection of data. Amends the Board of Higher Education Act. Requires the Illinois Community College Board to annually submit its budget request for the next fiscal year by November 15 of the preceding calendar year. Removes certain provisions concerning budget proposals. (Source: Illinois General Assembly)