(20 ILCS 2705/2705-425) (was 20 ILCS 2705/49.25f)
Sec. 2705-425.
Rail freight services assistance; loans; Rail Freight Loan
Repayment Fund. No funds available for operating or capital
assistance
under Section 5 of the United States Department of Transportation Act for rail freight
services in Illinois may be expended without specific appropriation
of those funds. Reimbursements for those loans that financially
responsible
persons are required by agreement to repay shall be deposited in the State
treasury as follows: (1) the State's share shall be deposited in the fund
from which the original expenditure was made, and (2) the federal share
shall be deposited in the Rail Freight Loan Repayment Fund. In the case of
repaid funds deposited in the Rail Freight Loan Repayment Fund, the
Department shall have the reuse of those funds and the interest accrued
thereon, which shall also be deposited by the State Treasurer in that Fund,
as the federal share in other eligible projects. However, no expenditures
from the Rail Freight Loan Repayment Fund for those projects shall
at any
time exceed the total sum of funds repaid and deposited in the Rail Freight
Loan Repayment Fund and interest earned by investment by the State
Treasurer that the State Treasurer shall have deposited in that
fund.
(Source: P.A. 91-239, eff. 1-1-00.)
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