The Illinois Evidence-Based Funding for Student Success Act (EBF), a comprehensive overhaul of the state's school funding formula, was signed into law in August 2017. The Act requires an overall increase of more than $7 billion in state education aid and sets 2027 as the deadline to reach full funding of the EBF formula. The Act also sets $350 million as the minimum increase required annually, although that amount is insufficient to comply with the 2027 timeframe. The Illinois Legislature has, since 2018, committed the minimum increase in state aid each year, except for 2021. To fully fund Illinois' public schools by 2027, the Legislature must increase state aid by nearly $1.5 billion per year, far above the $350 million minimum. The intent of the new formula was to correct deep disparities in school funding among Illinois districts. Inadequate funding for the state's poorer districts will continue far beyond the Act's 2027 deadline if the Legislature fails to increase state aid above the $350 million annual minimum. It also means wealthier districts less reliant on state aid are much more likely to be funded above the formula's adequacy levels. The bottom line is that generations of future students in low-wealth districts will continue to have significantly less funding and resources for their education. [This document was co-produced by the Partnership for Equity and Education Rights Illinois (PEER IL).]