House Sponsors: LANG-HOWARD-KENNER-MAY-SCHOENBERG, COLLINS, BOLAND AND LINDNER. Short description: TOLL AUTH-INSPECTOR & BONDS Synopsis of Bill as introduced: Amends the Toll Highway Act. Requires the Toll Highway Authority to appoint an Inspector General to investigate waste, fraud, or financial mismanagement in Authority operations involving Authority employees or contractors. Provides for the Inspector General's powers and duties. Makes failure to cooperate in specified ways with the investigation a Class A misdemeanor. Requires the Authority to use all surplus revenues to fund construction or repairs before issuing bonds to finance those activities. Requires the Authority to structure financing of new tollways and refinancing of debt to facilitate conversion of tollways into free State highways. Requires the Authority to report a schedule of that conversion to the Governor and General Assembly every 2 years. Effective immediately. FISCAL NOTE (Illinois State Toll Highway Authority) HB 78 would require an annual expenditure of $300,000 for the Inspector General position. A restructuring of current or future bond debt without a long-term financial plan may affect the overall creditworthiness of the Tollway Authority and sub- ject its credit rating to a possible downgrade by the various agencies. Bond issues based upon a limited timeframe may be financially unfeasible. At this time, no exact dollar figure can be attached to this provision. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status