SCHOOL FUNDING-EVIDENCE-BASED

Provides that the Act may be referred to as the Evidence-Based Funding for Student Success Act. Amends the Economic Development Area Tax Increment Allocation Act, State Finance Act, Property Tax Code, Innovation Development and Economy Act, County Economic Development Project Area Property Tax Allocation Act, County Economic Development Project Area Tax Increment Allocation Act of 1991, Illinois Municipal Code, Economic Development Project Area Tax Increment Allocation Act of 1995, School Code, and Educational Opportunity for Military Children Act. Provides that the State aid formula provisions of the School Code apply through the 2016-2017 school year. Provides for an evidence-based funding formula beginning with the 2017-2018 school year. Sets forth provisions concerning an adequacy target calculation, a local capacity calculation, a base funding minimum calculation, a percent of adequacy and final resources calculation, an evidence-based funding formula distribution system, State Superintendent of Education administration of funding and school district submission requirements, and a Professional Judgment Panel. Makes other changes. Effective immediately.