91st General Assembly
Summary of HB0066
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House Sponsors:

Short description: 
TOLL HWY-CONT AND ANNUAL APPR                                              

Synopsis of Bill as introduced:
        Amends the Toll Highway Act.  Provides that the Toll Highway  Act      
   shall  constitute an irrevocable and continuing appropriation from the      
   Illinois  State  Toll  Highway  Authority  Fund  for  amounts  to  pay      
   principal, interest, and other bond expenses and obligations  (instead      
   of  the  Fund being considered always appropriated for the purposes of      
   repayment of debt service and other bond obligations).  Provides  that      
   all  other  expenses,  including ordinary and contingent expenses, are      
   subject to annual appropriation by the General Assembly from the  Fund      
   (or from other funds as provided under a Section of the Act concerning      
   repayment  of  State  funds) for each fiscal year.  Provides that only      
   those amounts appropriated to the Authority other than from  the  Fund      
   shall be repaid.                                                            
          STATE DEBT NOTE (Economic and Fiscal Commission)                     
          HB66 would not affect the bonding authorization of the Toll          
          Highway Authority and has no direct impact on the level of           
          State indebtedness.                                                  
          FISCAL NOTE (State Toll Highway Authority)                           
          There would be approximately $100 million in increased debt          
          payments on the current outstanding bond debt of approximately       
          $900 million; this $900 million would become a contingent            
          liability and subject the credit rating to a possible further        
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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