CHICAGO — A complete overhaul of how Illinois funds schools was signed into law Thursday, finally eliminating Illinois’ worst-in-the nation school funding formula and putting in place a framework to ensure the state’s investment in public education helps those most in need.

Illinois Senate President John J. Cullerton issued the following statement:

“This is a historic but long overdue first step. Today, this law ensures schools across Illinois open and stay open for the school year. Going forward, it declares our commitment to fairness and equity in funding public education across our great state.”