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SPRINGFIELD, Ill. (AP) - A new report by a Senate education committee says that streamlining Illinois' school funding formula would provide better equity to districts across the state.

The document released Friday says putting the majority of state funds into one pot and dividing resources based on need would make a fairer distribution method.

The current system factors in a district's poverty for some types of state aid but not others.

The state is estimated to lose $1.5 billion in revenue next year if lawmakers allow the temporary income tax increase to expire as scheduled. Committee members say it's an ideal time to have a conversation about changes.

Democratic State Sen. Andy Manar will detail the report Monday at the Capitol. He says he hopes to have school funding reform legislation filed by March.

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