Illinois Senate to vote on school funding formula bill

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

SPRINGFIELD, Ill. -- The Illinois Senate could vote Tuesday on an education funding overhaul.

Leaders of both parties say it is a compromise and an important day for Illinois.

Concerned the measure was a bailout of Chicago, Gov. Bruce Rauner wanted significant changes to the plan.

But Chicago will get what it wants. The district expect $450 million under the overhaul.

Also, the Chicago Board of Education would be allowed to raise property taxes by another $120 million.

The governor says he'll sign the bill right away so schools across Illinois can get their checks from the state.

They've now gone a couple of weeks without money.

Not everyone's happy.  Some Democrats are concerned about tax credits for private school scholarships.