HB 3583

Abstract

Amends the State University Certificates of Participation Act. Provides that the Act applies until December 31, 2023 (rather than December 31, 2014). Amends the University of Illinois Act and the Northern Illinois University Law. Under an Investment, Performance, and Accountability Commitment at each University, requires each University to comply with certain tuition and mandatory fee, financial aid, and performance goal provisions if the University is appropriated a certain amount of money each fiscal year. Provides for an annual report, and repeals the Commitment on June 30, 2024. Subject to appropriation (greater than or equal to 1% of the faculty salary pool for Northern Illinois University), provides for an Excellence Program at each University to recruit and retain promising faculty throughout the University through capital investments; amends the State Finance Act to create a special fund. Effective immediately.