(a) The Commission shall meet at least once per quarter beginning no later than October 15, 2021. (b) On or before July 1, 2023, the Commission shall deliver to the General Assembly and publish on the Board of Higher Education's Internet website or otherwise make publicly available a report on the Commission's recommendations, including specific criteria and funding approaches in accordance with all applicable laws, to establish an equity-based funding model for the allocation of State funds to public universities. The recommendations included in the report must be equity-centered and consider all of the following areas: (1) Remediating inequities in funding that have led to disparities in access, affordability, and completion for underrepresented and historically underserved student groups, including students who are Black, Latinx, or from low-income families. (2) Ensuring that this State adequately, equitably, and stably funds public institutions of higher education in a manner that recognizes historical and current inequities impacting underrepresented minorities' higher education access and completion. (3) Providing incentives to all 4-year institutions of higher education in this State to enroll underrepresented and historically underserved student groups, including students who are Black, Latinx, or from low-income families, in proportion to the diversity of this State's population. (4) Allowing ongoing monitoring and continuous improvement of the public university funding models by requiring transparency and accountability in how State appropriations are expended and identifying a mechanism to study and review the implementation of any funding model developed and the long-term implications of this Act. (5) Creating guidelines for how funding is distributed during times of significant economic hardship, as defined by the Commission, so that public institutions of higher education are able to adequately, equitably, and stably serve students. (6) Ensuring that this State adequately and stably funds public institutions of higher education that serve underrepresented and historically underserved student groups, including students who are Black, Latinx, or from low-income families, and graduate and professional students, including doctors, dentists, pharmacists, and veterinarians. (7) Supporting the diverse individual mission of each public university, including its commitment to research and health care enterprises that serve and enhance the well-being of the residents of this State. (8) Fostering the economic activity and innovation generated by a university's activities, while recognizing the impact historic funding inequities may have had on the university's activities. (9) Taking into consideration the percentage of institutional aid provided from an institution's annual budget. (10) Taking into consideration the number of undergraduate students engaged in research at each university. (11) Supporting institutional efforts to recruit and retain world-class faculty and university leaders. (12) Ensuring stable and adequate funding for all institutions and that all universities are held harmless to their current funding level. The Commission may consider and report approaches to and the impact of a hold harmless funding provision for institutions of higher education as part of its final recommendations. (13) Taking into consideration the long-term implications and outcomes of the funding systems. The recommendations must fulfill the principles established by the Board of Higher Education's Strategic Plan. The recommendations may also be informed by the data-driven findings and recommendations established by the Chicago State University Equity Working Group and other groups researching equity in higher education and higher education funding and be aligned to this State's postsecondary attainment goal and related equity targets. to disparities in access, affordability, and completion for underrepresented and historically underserved student groups, including students who are Black, Latinx, or from low-income families. and stably funds public institutions of higher education in a manner that recognizes historical and current inequities impacting underrepresented minorities' higher education access and completion. of higher education in this State to enroll underrepresented and historically underserved student groups, including students who are Black, Latinx, or from low-income families, in proportion to the diversity of this State's population. improvement of the public university funding models by requiring transparency and accountability in how State appropriations are expended and identifying a mechanism to study and review the implementation of any funding model developed and the long-term implications of this Act. distributed during times of significant economic hardship, as defined by the Commission, so that public institutions of higher education are able to adequately, equitably, and stably serve students. funds public institutions of higher education that serve underrepresented and historically underserved student groups, including students who are Black, Latinx, or from low-income families, and graduate and professional students, including doctors, dentists, pharmacists, and veterinarians. each public university, including its commitment to research and health care enterprises that serve and enhance the well-being of the residents of this State. generated by a university's activities, while recognizing the impact historic funding inequities may have had on the university's activities. institutional aid provided from an institution's annual budget. undergraduate students engaged in research at each university. retain world-class faculty and university leaders. institutions and that all universities are held harmless to their current funding level. The Commission may consider and report approaches to and the impact of a hold harmless funding provision for institutions of higher education as part of its final recommendations. implications and outcomes of the funding systems.
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