Full Text of HB2453 98th General Assembly
HB2453eng 98TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning local government.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Regional Transportation Authority Act is | 5 | | amended by changing Section 3B.10 as follows:
| 6 | | (70 ILCS 3615/3B.10) (from Ch. 111 2/3, par. 703B.10)
| 7 | | Sec. 3B.10. Budget and Program. The Commuter Rail Board, | 8 | | subject to
the powers of the Authority in Section 4.11, shall | 9 | | control the finances
of the Division. It shall by ordinance | 10 | | appropriate money to perform the
Division's purposes and | 11 | | provide for payment of debts and expenses of the
Division. Each | 12 | | year the Commuter Rail Board shall prepare and publish a
| 13 | | comprehensive annual budget and proposed five-year capital
| 14 | | program document, and a financial plan for
the two years | 15 | | thereafter describing the state of the Division and presenting
| 16 | | for the forthcoming fiscal year and the two following years the | 17 | | Commuter
Rail Board's plans for such operations and capital | 18 | | expenditures as the Commuter
Rail Board intends to undertake | 19 | | and the means by which it intends to finance
them. The proposed | 20 | | budget,
financial plan, and five-year capital program shall be | 21 | | based on the Authority's
estimate of funds to be made available | 22 | | to the Commuter Rail Board by or through
the Authority and | 23 | | shall conform in all respects to the requirements established
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| 1 | | by the Authority. The proposed budget, financial plan, and | 2 | | five-year capital program shall contain a statement
of the | 3 | | funds estimated to be on hand at the beginning of the fiscal | 4 | | year,
the funds estimated to be received from all sources for | 5 | | such year and the
funds estimated to be on hand at the end of | 6 | | such year.
The fiscal year of the Division shall be the same as | 7 | | the fiscal
year of the Authority. | 8 | | Before the proposed budget,
financial
plan, and five-year | 9 | | capital program are submitted to the Authority, the Commuter | 10 | | Rail Board shall hold
at least one public hearing thereon in | 11 | | each of the counties in the metropolitan
region in which the | 12 | | Division provides service. The Commuter Rail Board
shall hold | 13 | | at least one meeting for consideration of the proposed budget, | 14 | | financial plan, and five-year capital plan with the county | 15 | | board of each of the several counties in the
metropolitan | 16 | | region in which the Division provides service. In addition, the | 17 | | Mass Transit Committee in the House of Representatives and the | 18 | | Transportation Committee in the Senate shall each hold a public | 19 | | hearing regarding any increases in the revenue recovery ratio | 20 | | and any increases in Commuter Rail Board fares or charges. | 21 | | Notice of the public hearings shall be given at least 20 days | 22 | | prior to the hearings. Notice shall be given by public | 23 | | advertisement in a newspaper of
general circulation in the | 24 | | metropolitan region, shall state the date, time, and place of | 25 | | the hearings, and shall contain a description of the proposed | 26 | | increase. The notice shall also specify how interested persons |
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| 1 | | may obtain copies of any reports, resolutions, or certificates | 2 | | describing the basis upon which any increases were calculated. | 3 | | After conducting
such hearings and holding such meetings | 4 | | and after making such changes in
the proposed budget, financial | 5 | | plan, and five-year capital plan
as the Commuter Rail Board | 6 | | deems appropriate,
the board shall adopt its annual budget | 7 | | ordinance at least by November 15 next
preceding
the beginning | 8 | | of each fiscal year. The budget,
financial
plan, and five-year | 9 | | capital program
shall then be submitted to the Authority as | 10 | | provided in Section 4.11.
In the event that the Board of the | 11 | | Authority determines that the budget
and program, and financial | 12 | | plan do not meet the standards of Section 4.11,
the Commuter | 13 | | Rail Board shall make such changes as are necessary to meet
| 14 | | such requirements and adopt an amended budget ordinance. The | 15 | | amended budget
ordinance shall be resubmitted to the Authority | 16 | | pursuant to Section 4.11. The ordinance
shall appropriate such | 17 | | sums of money as are deemed necessary to defray all
necessary | 18 | | expenses and obligations of the Division, specifying purposes
| 19 | | and the objects or programs for which appropriations are made | 20 | | and the amount
appropriated for each object or program. | 21 | | Additional appropriations, transfers
between items and other | 22 | | changes in such ordinance which do not alter the
basis upon | 23 | | which the balanced budget determination was made by the Board
| 24 | | of the Authority may be made from time to time by the Commuter | 25 | | Rail Board.
| 26 | | The budget shall:
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| 1 | | (i) show a balance between (A) anticipated revenues | 2 | | from all sources including
operating subsidies and (B) the | 3 | | costs of providing the services specified
and of funding | 4 | | any operating deficits or encumbrances incurred in prior
| 5 | | periods, including provision for payment when due of | 6 | | principal and interest
on outstanding indebtedness;
| 7 | | (ii) show cash balances including the proceeds of any | 8 | | anticipated cash
flow borrowing sufficient to pay with | 9 | | reasonable promptness all costs
and expenses as incurred;
| 10 | | (iii) provide for a level of fares or charges for the | 11 | | public transportation
provided by or subject to the | 12 | | jurisdiction of such Commuter Rail Board sufficient
to | 13 | | allow the Commuter Rail Board to meet its required system | 14 | | generated
revenue recovery ratio;
| 15 | | (iv) be based upon and employ assumptions and | 16 | | projections which the Board
of the Authority finds to be | 17 | | reasonable and prudent;
| 18 | | (v) have been prepared in accordance with sound | 19 | | financial practices as
determined by the Board of the | 20 | | Authority;
| 21 | | (vi) meet such other uniform financial, budgetary, or | 22 | | fiscal requirements
that the Board of the Authority may by | 23 | | rule or regulation establish; and
| 24 | | (vii) be consistent with the goals and objectives | 25 | | adopted by the Regional Transportation Authority in the | 26 | | Strategic Plan.
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| 1 | | (Source: P.A. 95-708, eff. 1-18-08.)
| 2 | | Section 99. Effective date. This Act takes effect upon | 3 | | becoming law.
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