The bill modifies existing laws by amending the State Treasurer Act, the State Finance Act, and the Illinois Income Tax Act, introducing a new income tax credit for individuals who make donations to the higher education fund. These changes are anticipated to increase financial support for students pursuing higher education, potentially leading to improved enrollment rates and access to education for low-income families. The implications of this program may result in long-term benefits for the state's economy through better-educated graduates entering the workforce.
Summary
House Bill 4341, introduced by Rep. Curtis J. Tarver, II, seeks to enhance access to higher education in Illinois through the establishment of the 'Invest in Illinois Higher Education Program.' This program is designed to provide scholarships to eligible students, funded by the 'Invest in Illinois Higher Education Fund,' which is created specifically for this purpose. The bill aims to assist students from households with lower federal adjusted gross incomes to afford tuition and related fees for community colleges and public universities in the state.
Contention
While the intention behind HB4341 is to foster educational accessibility, some may critique the reliance on private donations to fund scholarships, raising questions about sustainability and fairness. The bill's structure allows for contributions from various sources but may not guarantee consistent funding over the years. Therefore, there could be concerns regarding the bill's effectiveness in addressing educational disparities if financial support varies significantly year to year. Additionally, monitoring how these funds are allocated and whether they adequately serve the intended demographic is crucial for the success of the initiative.
To create the Alabama Fits All Scholarship Program; require the State Board of Education to contract with a program manager to administer the program; to authorize the program manager to establish scholarship accounts on behalf of eligible students; to prohibit a program manager from accepting scholarship funds in certain circumstances; to require fiscal safeguards and accountability measures; to require eligible schools and service providers to meet certain standards to be eligible to receive scholarship funds; to authorize the program manager to distribute scholarship funds; to require the State Board of Education to provide limited oversight of the program manager, including an appeal process for the program manager's administrative decisions; to prohibit certain regulations of eligible schools and eligible service providers; to require criminal history background information checks for employees and officers of a program manager; to provide for program funding; and to require the program manager and the board to submit reports on the program to the Legislature.