Bill Title: Amends the State Finance Act to create the Illiana Expressway Project Fund and the SouthEast Service Line Project Fund. Amends the Toll Highway Act. Provides that beginning with the fiscal year beginning July 1, 2013, $2,000,000 of all toll revenue generated each year by toll booths located in the 29th, 30th, 33rd, and 38th representative districts and in the 15th and 30th senatorial districts as they exist on the effective date of the amendatory Act shall be used in the following manner: (i) $1,000,000 shall be deposited into the Illiana Expressway Project Fund; and (ii) $1,000,000 shall be deposited into the SouthEast Service Line Project Fund. Provides that moneys in the Illiana Expressway Project Fund shall be used, subject to appropriation by the General Assembly and distribution by the Department of Transportation, to fund the debt service portion of the bond funding of the Illiana Expressway project, and that in the event that the Illiana Expressway project advances by means of exclusively private funding, moneys in the Illiana Expressway Project Fund shall be deposited into the SouthEast Service Line Project Fund. Provides that moneys in the SouthEast Service Line Project Fund shall be used, subject to appropriation by the General Assembly and distribution by the Regional Transportation Authority, to fund the debt service portion of the bond funding of the SouthEast Service line project, and that in the event that the SouthEast Service line project advances by means of exclusively private funding, moneys in the SouthEast Service Line Project Fund shall be deposited into the Illiana Expressway Project Fund. Provides that the new provisions may not be applied in a manner that impairs the rights of bondholders pursuant to any resolution or trust indentures authorizing the issuance of bonds of the Authority. Repeals the new provisions on July 1, 2047.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die
[HB5226 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2012-02-08 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois HB5226 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois HB5226 currently on file. |
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