Illinois legislative leaders to meet on school funding talks

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CHICAGO — Illinois' legislative leaders are set to continue negotiations on a possible solution to the state's school funding impasse.

House Speaker Michael Madigan says the meeting is Thursday in Chicago. He canceled a legislative session on school funding a day earlier citing progress in recent negotiations.

There's wide agreement that the state's 20-year-old school funding formula is unfair. But Democrats and Republicans disagree over how to fix it.

The budget state legislators approved last month over Gov. Bruce Rauner's objections requires a new formula for schools to get state money this academic year.

Rauner, a Republican, rejected the proposal majority Democrats sent him. The Senate overrode Rauner's veto.

Madigan says if there's no compromise this week between leaders, he'll schedule a House override vote next week.