Asplund says TIF changes in school formula hurts everybody

The first payments to schools from the state were to be made yesterday, and without a funding formula, those deposits were seemingly not made.
The fate of SB-1, the evidence based funding formula that Governor Bruce Rauner amendatory vetoed, is now in the hands of the General Assembly to either approve, override, or let die.

One issue that school districts throughout the state have voiced concerns regarding involve TIF subsidies that would strip state funding from districts.

Dr. John Asplund told WGIL that Rauner’s changes regarding TIFs was a “stick-it to the city of Chicago but it hurts every body.”

“Basically it says you have to count all the TIF assessed value in your district’s ability to pay, so it inflates the district’s ability to pay in the formula so it reduces the amount of funds that the state would send to you because it’s artificially represents what you could get but you can’t get and those TIFS are generally in effect for 23 years,” Asplund says.

Asplund says that until the State Board of Education releases the analysis of the amendatory veto, he wouldn’t speculate on what the district would lose from state funds.