Center for Tax and Budget Accountability HB/SB750

Is Your Senator a Co-Sponsor of SB 2288?

Click here to see if your Senator is a sponsor. If not, please contact him or her and tell them to co-sponsor SB 2288!

The lead sponsors of SB 2288, Senator James Meeks and Senator John Cullerton, are committed to bringing the bill to a vote in November. This gives us the spring and summer to work for the passage of the bill.

Senate Bill 2288 provides a new, permanent revenue source for schools, property tax relief for homeowners and

$1 billion for debt service for a state infrastructure program. It is the only piece of legislation that will truly reform the way education is funded in Illinois by making the state the primary funder of K-12 education. The bill also provides $300 million for community colleges and universities.

Read the bill here

Please continue to call or write your Senator and tell them to co-sponsor SB 2288. Use the A+ Illinois' website tools to find your Senator and their contact information here.

SB 2288 makes significant changes to tax and school funding laws.

It reduces our reliance on property taxes to fund schools by mandating an annual property tax abatement of $2.9 billion (indexed to inflation for each subsequent year) with every property owner seeing a minimum of 20% property tax relief on the portion of the bill designated to education.

The Invest in Illinois Fund is created and funded with $1 billion each year to provide funding for debt service and fees on bonds for capital projects, such as roads and schools, throughout the State.

The bill also mandates a $300 million annual appropriation (indexed for inflation) for grants to institutions of Higher Education.

Increases for Early Childhood education are phased in, from $45 million in 2009-2010 to $180 million in 2012-2013.

Increases to the Foundation Level are phased in, raising it from $6,253 for the 2009-2010 school year (from $5,734) up to $7,809 for the 2012-2013 school year. The Foundation Level and Supplemental General State Aid (Poverty Grants) are automatically tied to increases to the Employment Cost Index to control for inflation.

Doubles the special education personnel reimbursement rate.

Creates a School Improvement Partnership Fund to target resources to proven programs such as smaller class sizes, literacy coaching, longer school days and teacher mentoring;

Maintains and expands grants for high-poverty schools

The personal income tax is increased to 5% (from 3%), and the corporate income tax is increased to 8% (from 4.8%).

Family Tax Credits are provided to low and middle income taxpayers to help offset the income tax increase.

Click here to listen to a presentation on SB 2288 by the Center for Tax and Budget Accountability.