On Thursday, June 30th, the Illinois General Assembly and Governor Bruce Rauner approved a bipartisan stopgap budget less than 24 hours before the new fiscal year was set to begin on July 1st. The new law totals $50.6 billion for the fiscal year 2017, including $8.6 billion in General Revenue Funds, $33.6 billion in other state funds and $8.4 billion in federal funds. According to State Representative Avery Bourne (R-Raymond), “Through bipartisan compromise, we were able to give our area schools the full year funding that they needed to be able to open their doors on time.
This stopgap measure also ensures critical human services receive the funding and more than 800 transportation improvements will remain active throughout the next year.” Bourne added, “This budget deal is progress but there is still plenty of work to be done because this is not a full year budget for all of state government.”
The funding plan signed into law Thursday does not rely on a tax hike and fully funds elementary and secondary education for the first time in seven years. It also creates an equity grant for low-income school districts and ends proration of education. Both of which will help to provide equality in funding throughout the state.
The budget compromise funds road construction, federal programs, and other non-General Revenue Fund (GRF) programs for both fiscal years 2016 and 2017. It also provides FY17 funding to support 6 months of critical operations for higher education, state-operated facilities including prisons and veterans’ homes, fuel for the State Police to patrol our roads, and other core operations. Funds are available under current law for all components of this bridge plan.