From Illinois Business Journal news services
EDWARDSVILLE – Illinois State Rep. Dwight Kay, R-Glen Carbon, says he will co-sponsor legislation on Wednesday to fund public universities, community colleges and MAP grants as the State of Illinois approaches its eighth month without a state budget.
“This plan is a compromise in light of the current budget impasse and will provide much needed funding to keep Illinois’ public universities and community colleges open,” Kay said. “I am told if no action is taken soon, a number of state universities and community colleges will run out money.”
The legislation to be filed on Wednesday appropriates $1.68 billion from funding for higher education. Public universities will be funded at 80 percent of their FY15 appropriations, community colleges will be funded at 90 percent of their FY15 appropriations, and MAP grants will be funded at 100 percent of their FY15 appropriations.
The proposal co-sponsored by Kay will be effective upon the approval of the Unbalanced Budget Response Act (HB 4521). The new act will provide additional powers to the governor to take corrective actions to bring expenditures in line with revenue in circumstances when the State is spending in excess of estimated revenues. The new act will apply to Fiscal Years 2016 and 2017.