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 Bill Status of SB1697  98th General Assembly


Short Description:  CTA/RTA-FUEL RISK MANAGEMENT

Senate Sponsors
Sen. Martin A. Sandoval - Antonio Muņoz and Karen McConnaughay

House Sponsors
(Rep. Michael W. Tryon )

Last Action
DateChamber Action
  1/13/2015SenateSession Sine Die

Statutes Amended In Order of Appearance
70 ILCS 3615/2.20from Ch. 111 2/3, par. 702.20


Synopsis As Introduced
Amends the Metropolitan Transit Authority Act and the Regional Transportation Authority Act. Provides that the Regional Transportation Authority or a Service Board may enter into an option contract, forward contract, futures contract, swap, cap, or collar agreement with price floors or ceilings, or both, for fuel risk management purposes, subject to the approval of the Board of Directors of the Regional Transportation Authority.

Senate Committee Amendment No. 1
Deletes reference to:
70 ILCS 3615/2.20from Ch. 111 2/3, par. 702.20
Adds reference to:
70 ILCS 3615/3A.09from Ch. 111 2/3, par. 703A.09
70 ILCS 3615/3B.09from Ch. 111 2/3, par. 703B.09

Replaces everything after the enacting clause. Amends the Regional Transportation Act. Provides the Suburban Bus Board and the Commuter Rail Board with the power to enter into any option contract, forward contract, futures contract, swap, cap, or collar agreements with price floors or ceilings, or both, for fuel risk management, but only to the extent determined by the Board of Directors of the Regional Transportation Authority or the Suburban Bus or Commuter Rail Board to be in the best interests of the Authority or the Suburban Bus or Commuter Rail Board. Effective immediately.

Actions 
DateChamber Action
  2/15/2013SenateFiled with Secretary by Sen. Martin A. Sandoval
  2/15/2013SenateFirst Reading
  2/15/2013SenateReferred to Assignments
  2/27/2013SenateAssigned to Transportation
  3/5/2013SenatePostponed - Transportation
  3/6/2013SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Martin A. Sandoval
  3/6/2013SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/12/2013SenateSenate Committee Amendment No. 1 Assignments Refers to Transportation
  3/12/2013SenateSenate Committee Amendment No. 1 Adopted
  3/12/2013SenateDo Pass as Amended Transportation; 016-000-000
  3/12/2013SenatePlaced on Calendar Order of 2nd Reading March 13, 2013
  3/15/2013SenateAdded as Co-Sponsor Sen. Karen McConnaughay
  4/16/2013SenateAdded as Chief Co-Sponsor Sen. Antonio Muņoz
  4/18/2013SenateSecond Reading
  4/18/2013SenatePlaced on Calendar Order of 3rd Reading April 23, 2013
  4/23/2013SenateThird Reading - Passed; 054-000-000
  4/24/2013HouseArrived in House
  4/24/2013HouseChief House Sponsor Rep. Michael W. Tryon
  4/29/2013HouseFirst Reading
  4/29/2013HouseReferred to Rules Committee
  1/13/2015SenateSession Sine Die

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