UPDATED: Legislation allowing funding for higher education moves to Gov. Rauner's desk

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SPRINGFIELD - A proposal that would provide funding for community colleges and universities throughout Illinois has been passed by the Illinois Senate and Illinois House of Representatives.

Under the legislation, money from the Education Assistance Fund will be made available to many higher education institutions.  Officials say the bill is a bipartisan agreement, and will not impact any public pension fund or retirement system in Illinois.  It now moves to Governor Rauner for consideration.

In a news release, Governor Bruce Rauner praised lawmakers on putting their political differences aside and passing the legislation, allowing institutions to remain open and low-income students to have a way to pay for school.  Rauner also says he is "hopeful the General Assembly will build on this bipartisan momentum in the weeks ahead as we negotiate a balanced budget with reform for Fiscal Years 2016 and 2017.”

Illinois Comptroller Leslie Munger says her office will begin making payments immediately.  Munger adds that the legislation will allow her office to pay student MAP grants.

For more information on this bill, click here.  We will provide more information as it becomes available.

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