The Republican leaders in the General Assembly said Thursday an agreement has been reached on a new school funding formula.
House Republican Leader Jim Durkin (R-Western Springs) and Senate Republican Leader-designee Bill Brady (R-Bloomington) announced the compromise in a joint statement.
“This afternoon the four legislative leaders and the governor reached an agreement in principle on historic school funding reform. Language will be drafted and details of the agreement released once the drafts have been reviewed. The leaders will reconvene in Springfield on Sunday in anticipation of House action on Monday,” said the brief statement.
Illinois schools have gone without school funding this year as leaders have debated Senate Bill 1, an evidence-based school funding formula favored by Democrats. Part of the state budget passed by a bipartisan group in July required an evidence-based formula to be implemented for most state school funding to be distributed.
Gov. Bruce Rauner argued Senate Bill 1 was a "Chicago bailout," while Democrats said the bill offers fairness to all school districts in the state.
Details on the compromise reached by the four legislative leaders are expected to come out in the coming days, though the compromise reportedly includes provisions on property taxes and certain school mandates.