| Fiscal Note (Illinois Board of Higher Education)
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| No fiscal impact to the State. General Assembly scholarships are funded through public university tuition and fee waivers. Tuition and fee revenue is collected and held locally by each public university, and tuition and fee waivers result in "foregone" revenue for institutions.
The most recent data available indicate that Illinois public universities granted General Assembly tuition and fee waivers valued at $7,551,600 in fiscal year 2003. The maximum General Assembly scholarship length that can be awarded is four years. During the previous five years (fiscal years 1998 to 2003), the average annual percentage growth in the value of these waivers was 8.6 percent. Assuming this rate of growth, the maximum scholarship length (four years), and that all new scholarship recipients enrolled at an Illinois public university during academic year 2004-05, the maximum value of General Assembly waivers would be $11,398,700 by fiscal year 2008 (academic year 2007-08), the last possible year for any waivers to be granted under this program based on a cut-off date of June 1, 2004 for new awards. Under these assumptions, the value of these waivers would be $0 after fiscal year 2008, reducing the overall tuition waiver liability for public universities. |
Date | Chamber | Action |
2/3/2004 | House | Filed with the Clerk by Rep. Naomi D. Jakobsson | 2/3/2004 | House | First Reading | 2/3/2004 | House | Referred to Rules Committee | 2/9/2004 | House | Fiscal Note Filed | 2/24/2004 | House | Assigned to Higher Education Committee | 3/2/2004 | House | Re-assigned to State Government Administration Committee | 3/4/2004 | House | Do Pass / Standard Debate State Government Administration Committee; 006-003-000 | 3/4/2004 | House | Placed on Calendar 2nd Reading - Standard Debate | 3/23/2004 | House | Second Reading - Standard Debate | 3/23/2004 | House | Placed on Calendar Order of 3rd Reading - Standard Debate | 3/25/2004 | House | Added Chief Co-Sponsor Rep. Kevin A. McCarthy | 4/1/2004 | House | Third Reading - Consideration Postponed | 4/1/2004 | House | Placed on Calendar - Consideration Postponed | 4/2/2004 | House | Rule 19(a) / Re-referred to Rules Committee | 1/11/2005 | House | Session Sine Die |