Tax Fund Reallocation Pinches Money From Illinois Public Schools
One promise heard repeatedly during debate over the state's new school funding plan was that no schools would get less funding than before. But lawmakers siphoned $300 million from a fund that schools and local governments rely upon.
It was part of a separate action implementing the state budget. Vic Zimmerman is superintendent of Monticello schools. He says that fund represents 40% of his budget.
"We certainly now have huge red numbers because of the divergence to CPPRT and the estimate for this year compared to last year," Zimmerman said.
He's referring to a fund called the Corporate Personal Property Replacement Tax. This year, the money taken from local schools will go to agencies like the Department of Revenue and Labor Relations Board. Other districts in northern Illinois losing these funds are the Rutland Grade School in Ottawa, the Erie School District in Whiteside County, and the Putnam County School District.