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It could also be 40 percent, if they use the House Dems’ version of education funding.] Legislature would CPS to levy beyond the property tax cap (a bill that’s sitting in the Senate) [ADDING: This, by the way, isn’t to say that the governor “supports” a property tax hike for Chicago. [ADDING: CPS’ cut of that would be about 38 percent, which works out to million.If it pans out, that’d lead to a temporary spending plan for universities, social services and government operations.A source says that would be separate from funding for schools; something Brady calls a “tender nerve.” Democrats favor spending hundreds of millions of dollars more on education, in part to help out the financially struggling Chicago Public Schools.Second, lawmakers would approve a bill to allow Chicago to raise property taxes to help pay for CPS pensions.

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Brady says there needs to be a way to avoid the perception of what Republicans and downstaters call a CPS “bailout.”First, the state would add about 0 million in spending intended for school districts with low-income students.

A sizable, to-be-determined chunk of that money would go to CPS.

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