But House Democrats accused Rauner of playing politics.
The veto makes several changes, which Rauner said were needed to provide adequate and equitable school funding.
Chicago Mayor Rahm Emanuel, who controls the nation's third-largest public school system, said Rauner was "ignoring the needs of Illinois' school children" and school superintendents who supported the bill.
Rauner used his amendatory veto powers Tuesday to rewrite a bill that overhauls how the state distributes money to schools.
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The move threatens whether all school districts statewide get money before school starts.
As the clock ticked Monday, state lawmakers were trying to negotiate changes to the bipartisan education spending plan in the hopes of settling the latest disagreement between the Democrat-controlled Legislature and the Republican governor before classes are set to resume within weeks. Gov. Rauner says he wants ideas proposed by the Illinois School Funding Reform Commission he established over a year ago to be considered. We are too, but let's not forget that it is Governor Rauner who pits downstate communities against Chicago for his own political gain, while independent fact checkers say there is no truth to his claims.
His veto includes what he wanted all along, removing a portion of the bill that would put millions towards Chicago Public Schools to help pay their pensions.
Gov. Bruce Rauner says the way public schools get money in IL will be more "fair and equitable" with his changes to a school funding bill.
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No Illinois school has reported that it'll be unable to open on time, according to the Illinois State Board of Education.
Democratic legislators backing the bill had held it in the Senate on a procedural vote to keep it from reaching Rauner's desk. "And my changes ensure that the education funding system in our state is fair and equitable to all students in IL". Senate President John Cullerton, a Democrat, has bristled at the governor's characterization of the bill as a CPS "bailout", accusing Rauner of pitting the rest of the state against Chicago.
The bill now returns to the Legislature, where three-fifths of lawmakers in both chambers must either approve or override Rauner's changes.
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