No it won't even though as the Illinois Policy Institute explains:
Illinois’ new education funding formula signed into law in August gave the Chicago Public Schools everything it wanted, and more. CPS got to keep its old subsidies, it got the state to pay for its pension costs and it got permission to raise property taxes yet again.
And it got a new education funding formula that was written with a combination of rules that benefit CPS more than most other districts. It was a full-fledged bailout. And as a result, CPS is expected to get $450 million in additional funding next year.