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1 | AN ACT concerning local government.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Regional Transportation Authority Act is | ||||||
5 | amended by changing Section 3B.10 as follows:
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6 | (70 ILCS 3615/3B.10) (from Ch. 111 2/3, par. 703B.10)
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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
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13 | comprehensive annual budget and proposed five-year capital
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14 | program document, and a financial plan for
the two years | ||||||
15 | thereafter describing the state of the Division and presenting
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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
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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
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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
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24 | of the Authority may be made from time to time by the Commuter | ||||||
25 | Rail Board.
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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
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5 | periods, including provision for payment when due of | ||||||
6 | principal and interest
on outstanding indebtedness;
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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;
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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;
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15 | (iv) be based upon and employ assumptions and | ||||||
16 | projections which the Board
of the Authority finds to be | ||||||
17 | reasonable and prudent;
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18 | (v) have been prepared in accordance with sound | ||||||
19 | financial practices as
determined by the Board of the | ||||||
20 | Authority;
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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
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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.)
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2 | Section 99. Effective date. This Act takes effect upon | ||||||
3 | becoming law.
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