Synopsis As Introduced Amends the Board of Higher Education Act. With respect to the Board's analysis of formulating the annual budget request for State universities and colleges, provides that, beginning with Fiscal Year 2013, the annual budget request must incorporate performance-based funding, pursuant to the report of the Board's Higher Education Finance Study Commission. Provides that the Board shall have 2 fiscal years to implement this performance-based funding, and thereafter must update how this funding is calculated every 6 months, which updates must be reported to the Governor and the General Assembly. Effective immediately.
State Debt Impact Note (Government Forecasting & Accountability)
HB 1503 would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness.
HB 1503 will not impact any public pension fund or retirement system in Illinois.
Fiscal Note (IL Board of Higher Education)
The agency expects to incur an estimated $40,000 in administrative costs to implement HB 1503. This estimate includes the cost of hiring consultants and national experts to facilitate working group discussions and travel costs associated with staff and stakeholder attendance at meetings, conferences, and training seminars.
State Mandates Fiscal Note (Dept. of Commerce & Economic Opportunity)
HB 1503 does not create a State mandate.
Home Rule Note (Dept. of Commerce & Economic Opportunity)
HB 1503 does not pre-empt home rule authority.
House Floor Amendment No. 1 Deletes everything after the enacting clause. Amends the Board of Higher Education Act. Directs the Board of Higher Education to form a broad-based group of individuals representing the Office of the Governor, the General Assembly, public institutions of higher education, State agencies, business and industry, Statewide organizations representing faculty and staff, and others as the Board shall deem appropriate to devise a system for allocating State resources to public institutions of higher education based upon performance in achieving State goals related to student success and certificate and degree completion. Provides that, beginning in Fiscal Year 2013, the Board of Higher Education budget recommendations to the Governor and the General Assembly shall include allocations to public institutions of higher education based upon performance metrics designed to promote and measure student success in degree and certificate completion. Provides that these metrics must be adopted by the Board by rule. Requires the metrics to be developed and promulgated in accordance with specified principles. Provides that in devising performance metrics, the Board may be guided by the report of the Higher Education Finance Study Commission.
Housing Affordability Impact Note (Housing Development Authority)
This bill will have no effect on the cost of constructing, purchasing, owning, or selling a single-family residence.