Full Text of HB0585 97th General Assembly
HB0585ham004 97TH GENERAL ASSEMBLY | Rep. Elaine Nekritz Filed: 3/30/2011
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| 1 | | AMENDMENT TO HOUSE BILL 585
| 2 | | AMENDMENT NO. ______. Amend House Bill 585 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Regional Transportation Authority Act is | 5 | | amended by changing Sections 2.01c, 2.01d, 2.01e, 4.03.3, and | 6 | | 4.11 as follows: | 7 | | (70 ILCS 3615/2.01c)
| 8 | | Sec. 2.01c. Innovation, Coordination, and Enhancement | 9 | | Fund. | 10 | | (a) The Authority shall establish an Innovation, | 11 | | Coordination, and Enhancement Fund and each year deposit into | 12 | | the Fund an amount equal to $10,000,000 in 2008, and, each year | 13 | | thereafter, an amount equal to the amount deposited in the | 14 | | previous year increased or decreased by the percentage growth | 15 | | or decline in revenues received by the Authority from taxes | 16 | | imposed under Section 4.03 in the previous year the amounts |
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| 1 | | directed by Section 4.03.3 of this Act . Amounts on deposit in | 2 | | such Fund and interest and other earnings on those amounts may | 3 | | be used by the Authority,
upon the affirmative vote of 12 of | 4 | | its then Directors, and after
a public participation process, | 5 | | for operating or capital grants
or loans to Service Boards, | 6 | | transportation agencies, or units
of local government that | 7 | | advance the goals and objectives
identified by the Authority in | 8 | | its Strategic Plan, provided
that no improvement that has been | 9 | | included in a Five-Year
Capital Program as of the effective | 10 | | date of this amendatory Act
of the 95th General Assembly may | 11 | | receive any funding from the
Innovation, Coordination, and | 12 | | Enhancement Fund. Unless the
Board has determined by a vote of | 13 | | 12 of its then Directors that
an emergency exists requiring the | 14 | | use of some or all of the
funds then in the Innovation, | 15 | | Coordination, and Enhancement
Fund, such funds may only be used | 16 | | to enhance the coordination
and integration of public | 17 | | transportation and develop and
implement innovations to | 18 | | improve the quality and delivery of
public transportation. | 19 | | (b) Any grantee that receives funds from the Innovation, | 20 | | Coordination, and Enhancement Fund for the operation of | 21 | | eligible programs must (i) implement such programs within one | 22 | | year of receipt of such funds and (ii) within 2 years following | 23 | | commencement of any program utilizing such funds, determine | 24 | | whether it is desirable to continue the program, and upon such | 25 | | a determination, either incorporate such program into its | 26 | | annual operating budget and capital program or discontinue such |
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| 1 | | program. No additional funds from the Innovation, | 2 | | Coordination, and Enhancement Fund may be distributed to a | 3 | | grantee for any individual program beyond 2 years unless the | 4 | | Authority by the affirmative vote of at least 12 of its then | 5 | | Directors waives this limitation. Any such waiver will be with | 6 | | regard to an individual program and with regard to a one | 7 | | year-period, and any further waivers for such individual | 8 | | program require a subsequent vote of the Board.
| 9 | | (Source: P.A. 95-708, eff. 1-18-08.) | 10 | | (70 ILCS 3615/2.01d)
| 11 | | Sec. 2.01d. ADA Paratransit Fund. The Authority shall | 12 | | establish an ADA Paratransit Fund and, each year, deposit into | 13 | | that Fund the following amounts: (i) a base amount equal to | 14 | | $115,000,000 in 2012, and, each year thereafter, an amount | 15 | | equal to 105% of the final budgeted funding for ADA paratransit | 16 | | services for the prior year, (ii) the amounts directed by | 17 | | Section 4.03.3 of this Act and any funds received from the | 18 | | State pursuant to appropriations for the purpose of funding ADA | 19 | | paratransit services , and (iii) any additional funds necessary | 20 | | to fund the budget or amended budget for ADA paratransit | 21 | | services adopted or approved by the Board for the current year . | 22 | | The amounts on deposit in the Fund and interest and other | 23 | | earnings on those amounts shall be used by the Authority to | 24 | | make grants to the Suburban Bus Board for ADA paratransit | 25 | | services provided pursuant to plans approved by the Authority |
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| 1 | | under Section 2.30 of this Act. Funds received by the Suburban | 2 | | Bus Board from the Authority's ADA Paratransit Fund shall be | 3 | | used only to provide ADA paratransit services to individuals | 4 | | who are determined to be eligible for such services by the | 5 | | Authority under the Americans with Disabilities Act of 1990 and | 6 | | its implementing regulations. Revenues from and costs of | 7 | | services provided by the Suburban Bus Board with grants made | 8 | | under this Section shall be included in the Annual Budget and | 9 | | Two-Year Financial Program of the Suburban Bus Board and shall | 10 | | be subject to all budgetary and financial requirements under | 11 | | this Act that apply to ADA paratransit services. Beginning in | 12 | | 2008, the Executive Director shall, no later than August 15 of | 13 | | each year, provide to the Board a written determination of the | 14 | | projected annual costs of ADA paratransit services that are | 15 | | required to be provided pursuant to the Americans with | 16 | | Disabilities Act of 1990 and its implementing regulations for | 17 | | the current year . The Authority shall conduct triennial | 18 | | financial, compliance, and performance audits of ADA | 19 | | paratransit services to assist in this determination.
| 20 | | (Source: P.A. 95-708, eff. 1-18-08.) | 21 | | (70 ILCS 3615/2.01e)
| 22 | | Sec. 2.01e. Suburban Community Mobility Fund. The | 23 | | Authority shall establish a Suburban Community Mobility Fund | 24 | | and , each year, deposit into that Fund an amount equal to | 25 | | $20,000,000 in 2008, and, each year thereafter, an amount equal |
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| 1 | | to the amount deposited in the previous year increased or | 2 | | decreased by the percentage growth or decline in revenues | 3 | | received by the Authority from taxes imposed under Section 4.03 | 4 | | in the previous year the amounts directed by Section 4.03.3 of | 5 | | this Act . The amounts on deposit in the Fund and interest and | 6 | | other earnings on those amounts shall be used by the Authority | 7 | | to make grants to the Suburban Bus Board for the purpose of | 8 | | operating transit services, other than traditional fixed-route | 9 | | services, that enhance suburban mobility, including, but not | 10 | | limited to, demand-responsive transit services, ride sharing, | 11 | | van pooling, service coordination, centralized dispatching and | 12 | | call taking, reverse commuting, service restructuring, and bus | 13 | | rapid transit. Revenues from and costs of services provided by | 14 | | the Suburban Bus Board with moneys from the Suburban Community | 15 | | Mobility Fund shall be included in the Annual Budget and | 16 | | Two-Year Financial Program of the Suburban Bus Board and shall | 17 | | be subject to all budgetary and financial requirements under | 18 | | this Act.
| 19 | | (Source: P.A. 95-708, eff. 1-18-08.) | 20 | | (70 ILCS 3615/4.03.3)
| 21 | | Sec. 4.03.3. Distribution of Revenues. This Section | 22 | | applies only after the Department begins administering and | 23 | | enforcing an increased tax under Section 4.03(m) as authorized | 24 | | by this amendatory Act of the 95th General Assembly. After | 25 | | providing for payment of its obligations with respect to bonds |
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| 1 | | and notes issued under the provisions of Section 4.04 and | 2 | | obligations related to those bonds and notes, the Authority | 3 | | shall disburse the remaining proceeds from taxes it has | 4 | | received from the Department of Revenue under this Article IV | 5 | | and the remaining proceeds it has received from the State under | 6 | | Section 4.09(a) as follows: | 7 | | (a) With respect to taxes imposed by the Authority under | 8 | | Section 4.03, after withholding 15% of 80% of the receipts from | 9 | | those taxes collected in Cook County at a rate of 1.25%, 15% of | 10 | | 75% of the receipts from those taxes collected in Cook County | 11 | | at the rate of 1%, 15% of one-half of the receipts from those | 12 | | taxes collected in DuPage, Kane, Lake, McHenry, and Will | 13 | | Counties, and 15% of money received by the Authority from the | 14 | | Regional Transportation Authority Occupation and Use Tax | 15 | | Replacement Fund or from the Regional Transportation Authority | 16 | | tax fund created in Section 4.03(n), the Board shall allocate | 17 | | the proceeds and money remaining to the Service Boards as | 18 | | follows:
| 19 | | (1) an amount equal to (i) 85% of 80% of the receipts | 20 | | from those taxes collected within the City of Chicago at a | 21 | | rate of 1.25%, (ii) 85% of 75% of the receipts from those | 22 | | taxes collected in the City of Chicago at the rate of 1%, | 23 | | and (iii) 85% of the money received by the Authority on | 24 | | account of transfers to the Regional Transportation | 25 | | Authority Occupation and Use Tax Replacement Fund or to the | 26 | | Regional Transportation Authority tax fund created in |
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| 1 | | Section 4.03(n) from the County and Mass Transit District | 2 | | Fund attributable to retail sales within the City of | 3 | | Chicago shall be allocated to the Chicago Transit | 4 | | Authority;
| 5 | | (2) an amount equal to (i) 85% of 80% of the receipts | 6 | | from those taxes collected within Cook County outside of | 7 | | the City of Chicago at a rate of 1.25%, (ii) 85% of 75% of | 8 | | the receipts from those taxes collected within Cook County | 9 | | outside the City of Chicago at a rate of 1%, and (iii) 85% | 10 | | of the money received by the Authority on account of | 11 | | transfers to the Regional Transportation Authority | 12 | | Occupation and Use Tax Replacement Fund or to the Regional | 13 | | Transportation Authority tax fund created in Section | 14 | | 4.03(n) from the County and Mass Transit District Fund | 15 | | attributable to retail sales within Cook County outside of | 16 | | the City of Chicago shall be allocated 30% to the Chicago | 17 | | Transit Authority, 55% to the Commuter Rail Board, and 15% | 18 | | to the Suburban Bus Board; and
| 19 | | (3) an amount equal to 85% of one-half of the receipts | 20 | | from the taxes collected within the Counties of DuPage, | 21 | | Kane, Lake, McHenry, and Will shall be allocated 70% to the | 22 | | Commuter Rail Board and 30% to the Suburban Bus Board.
| 23 | | (b) Moneys received by the Authority on account of | 24 | | transfers to the Regional Transportation Authority Occupation | 25 | | and Use Tax Replacement Fund from the State and Local Sales Tax | 26 | | Reform Fund shall be allocated among the Authority and the |
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| 1 | | Service Boards as follows: 15% of such moneys shall be retained | 2 | | by the Authority and the remaining 85% shall be transferred to | 3 | | the Service Boards as soon as may be practicable after the | 4 | | Authority receives payment. Moneys which are distributable to | 5 | | the Service Boards pursuant to the preceding sentence shall be | 6 | | allocated among the Service Boards on the basis of each Service | 7 | | Board's distribution ratio. The term "distribution ratio" | 8 | | means, for purposes of this subsection (b), the ratio of the | 9 | | total amount distributed to a Service Board pursuant to | 10 | | subsection (a) of Section 4.03.3 for the immediately preceding | 11 | | calendar year to the total amount distributed to all of the | 12 | | Service Boards pursuant to subsection (a) of Section 4.03.3 for | 13 | | the immediately preceding calendar year.
| 14 | | (c)(i) 20% of the receipts from those taxes collected in | 15 | | Cook County under Section 4.03 at the rate of 1.25%, (ii) 25% | 16 | | of the receipts from those taxes collected in Cook County under | 17 | | Section 4.03 at the rate of 1%, (iii) 50% of the receipts from | 18 | | those taxes collected in DuPage, Kane, Lake, McHenry, and Will | 19 | | Counties under Section 4.03, and (iv) amounts received from the | 20 | | State under Section 4.09 (a)(2) and items (i), (ii), and (iii) | 21 | | of Section 4.09 (a)(3) shall be allocated as follows: the | 22 | | amount required to be deposited into in 2008, $100,000,000 | 23 | | shall be deposited in the ADA Paratransit Fund described in | 24 | | Section 2.01d, the amount required to be deposited into | 25 | | $20,000,000 shall be deposited in the Suburban Community | 26 | | Mobility Fund described in Section 2.01e, and the amount |
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| 1 | | required to be deposited into $10,000,000 shall be deposited in | 2 | | the Innovation, Coordination and Enhancement Fund described in | 3 | | Section 2.01c, and the balance shall be allocated 48% to the | 4 | | Chicago Transit Authority, 39% to the Commuter Rail Board, and | 5 | | 13% to the Suburban Bus Board ; and in 2009 and each year | 6 | | thereafter, the amounts deposited in the ADA Paratransit Fund, | 7 | | the Suburban Community Mobility Fund and the Innovation, | 8 | | Coordination and Enhancement Fund respectively shall equal the | 9 | | amount deposited in the previous year increased or decreased by | 10 | | the percentage growth or decline in revenues received by the | 11 | | Authority from taxes imposed under Section 4.03 in the previous | 12 | | year, and the balance shall be allocated 48% to the Chicago | 13 | | Transit Authority, 39% to the Commuter Rail Board and 13% to | 14 | | the Suburban Bus Board .
| 15 | | (d) Amounts received from the State under Section 4.09 | 16 | | (a)(3)(iv) shall be distributed 100% to the Chicago Transit | 17 | | Authority.
| 18 | | (e) With respect to those taxes collected in DuPage, Kane, | 19 | | Lake, McHenry, and Will Counties and paid directly to the | 20 | | counties under Section 4.03, the County Board of each county | 21 | | shall use those amounts to fund operating and capital costs of | 22 | | public safety and public transportation services or facilities | 23 | | or to fund operating, capital, right-of-way, construction, and | 24 | | maintenance costs of other transportation purposes, including | 25 | | road, bridge, public safety, and transit purposes intended to | 26 | | improve mobility or reduce congestion in the county. The |
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| 1 | | receipt of funding by such counties pursuant to this paragraph | 2 | | shall not be used as the basis for reducing any funds that such | 3 | | counties would otherwise have received from the State of | 4 | | Illinois, any agency or instrumentality thereof, the | 5 | | Authority, or the Service Boards.
| 6 | | (f) The Authority by ordinance adopted by 12 of its then | 7 | | Directors shall apportion to the Service Boards funds provided | 8 | | by the State of Illinois under Section 4.09(a)(1) as it shall | 9 | | determine and shall make payment of the amounts to each Service | 10 | | Board as soon as may be practicable upon their receipt provided | 11 | | the Authority has adopted a balanced budget as required by | 12 | | Section 4.01 and further provided the Service Board is in | 13 | | compliance with the requirements in Section 4.11.
| 14 | | (g) Beginning January 1, 2009, before making any payments, | 15 | | transfers, or expenditures under this Section to a Service | 16 | | Board, the Authority must first comply with Section 4.02a or | 17 | | 4.02b of this Act, whichever may be applicable.
| 18 | | (Source: P.A. 95-708, eff. 1-18-08.)
| 19 | | (70 ILCS 3615/4.11) (from Ch. 111 2/3, par. 704.11)
| 20 | | Sec. 4.11. Budget Review Powers.
| 21 | | (a) Based
upon estimates which shall be given to the | 22 | | Authority by the Director of
the
Governor's Office of | 23 | | Management and Budget (formerly
Bureau of the Budget) of the | 24 | | receipts to be received by the
Authority from the taxes imposed
| 25 | | by the Authority and the authorized estimates of amounts
to be |
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| 1 | | available from State and other sources to the Service Boards, | 2 | | and
the times at which such receipts and amounts will be | 3 | | available, the Board
shall, not later than the next preceding | 4 | | September 15th prior to the beginning
of the Authority's next | 5 | | fiscal year,
advise each Service Board of the amounts estimated | 6 | | by the Board to be available
for such Service Board during such | 7 | | fiscal year and the two following fiscal
years and the times at | 8 | | which such amounts will be available. The Board
shall, at the | 9 | | same time, also advise each Service Board of its required
| 10 | | system generated revenues recovery ratio for the next fiscal | 11 | | year which
shall be the percentage of the aggregate costs of | 12 | | providing public
transportation by or under jurisdiction of | 13 | | that Service Board which must be
recovered from system | 14 | | generated revenues. The Board shall, at the same time, consider | 15 | | the written determination of the Executive Director, made | 16 | | pursuant to Section 2.01d, of the costs of ADA paratransit | 17 | | services that are required to be provided under the federal | 18 | | Americans with Disabilities Act of 1990 and its implementing | 19 | | regulations, and shall amend the current year budgets of the | 20 | | Authority and the Service Boards to provide for additional | 21 | | funding for the provision of ADA paratransit services, if | 22 | | needed. The Board shall, at the same time, beginning with the | 23 | | 2007 fiscal year, also advise each Service Board that provides | 24 | | ADA paratransit services of its required system generated ADA | 25 | | paratransit services revenue recovery ratio for the next fiscal | 26 | | year which shall be the percentage of the aggregate costs of |
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| 1 | | providing ADA paratransit services by or under jurisdiction of | 2 | | that Service Board which must be recovered from fares charged | 3 | | for such services, except that such required system generated | 4 | | ADA paratransit services revenue recovery ratio shall not | 5 | | exceed the minimum percentage established pursuant to Section | 6 | | 4.01(b)(ii) of this Act. In determining
a Service Board's | 7 | | system generated revenue recovery ratio, the Board shall
| 8 | | consider the historical system generated revenues recovery | 9 | | ratio for the
services subject to the jurisdiction of that
| 10 | | Service Board. The Board shall not increase a Service Board's | 11 | | system generated
revenues recovery ratio for the next fiscal | 12 | | year over such ratio for the
current fiscal year | 13 | | disproportionately or prejudicially to increases in
such | 14 | | ratios for other Service Boards. The Board may, by ordinance,
| 15 | | provide that (i) the cost of research and development projects | 16 | | in the
fiscal year beginning January 1, 1986 and ending | 17 | | December 31, 1986
conducted pursuant to Section 2.09 of this | 18 | | Act, (ii) the costs for passenger security, and (iii) | 19 | | expenditures of amounts granted to a Service Board from the | 20 | | Innovation, Coordination, and Enhancement Fund for operating | 21 | | purposes may be exempted from the
farebox recovery ratio or the | 22 | | system generated revenues recovery ratio of
the Chicago Transit | 23 | | Authority, the Suburban Bus Board, and the Commuter
Rail Board, | 24 | | or any of them. During fiscal years 2008 through 2012, the | 25 | | Board may also allocate the exemption of $200,000,000 and the | 26 | | reducing amounts of costs provided by this amendatory Act of |
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| 1 | | the 95th General Assembly from the farebox recovery ratio or | 2 | | system generated revenues recovery ratio of each Service Board.
| 3 | | (b)(1) Not later than the next preceding November 15 prior | 4 | | to the
commencement of such fiscal year, each Service Board | 5 | | shall submit to the
Authority its proposed budget for such | 6 | | fiscal year and its proposed
financial plan for the two | 7 | | following fiscal years. Such budget and
financial plan shall | 8 | | (i) be prepared in the format, follow the financial and | 9 | | budgetary practices, and be based on any assumptions and | 10 | | projections required by the Authority and (ii) not project or | 11 | | assume a receipt of revenues from the
Authority in amounts | 12 | | greater than those set forth in the estimates provided
by the | 13 | | Authority pursuant to subsection (a) of this Section.
| 14 | | (2) The Board shall review the proposed budget and two-year
| 15 | | financial plan submitted
by each Service Board. The Board shall | 16 | | approve the budget and two-year financial plan of a Service | 17 | | Board if:
| 18 | | (i)
such budget and plan show a balance between (A) | 19 | | anticipated revenues
from all sources including operating | 20 | | subsidies and (B) the costs of providing
the services | 21 | | specified and of funding any operating deficits or | 22 | | encumbrances
incurred in prior periods, including | 23 | | provision for payment when due of
principal and interest on | 24 | | outstanding indebtedness;
| 25 | | (ii)
such budget and plan show cash balances including | 26 | | the proceeds of
any anticipated cash flow borrowing |
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| 1 | | sufficient to pay with reasonable
promptness all costs and | 2 | | expenses as incurred;
| 3 | | (iii)
such budget and plan provide for a level of fares | 4 | | or charges and
operating or administrative costs for the | 5 | | public transportation provided
by or subject to the | 6 | | jurisdiction of such Service Board sufficient to allow
the | 7 | | Service Board to meet its required system generated revenue | 8 | | recovery ratio and, beginning with the 2007 fiscal year, | 9 | | system generated ADA paratransit services revenue recovery | 10 | | ratio;
| 11 | | (iv)
such budget and plan are based upon and employ | 12 | | assumptions and
projections which are reasonable and | 13 | | prudent;
| 14 | | (v)
such budget and plan have been prepared in | 15 | | accordance with sound
financial practices as determined by | 16 | | the Board;
| 17 | | (vi)
such budget and plan meet such other financial, | 18 | | budgetary, or fiscal
requirements that the Board may by | 19 | | rule or regulation establish; and
| 20 | | (vii) such budget and plan are consistent with the | 21 | | goals and objectives adopted by the Authority in the | 22 | | Strategic Plan.
| 23 | | (3) (Blank).
| 24 | | (4) Unless the Board by an affirmative vote of 12
of the | 25 | | then Directors
determines that the budget and financial plan of | 26 | | a Service Board meets the
criteria specified in clauses (i)
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| 1 | | through (vii) of subparagraph (2) of
this paragraph (b), the | 2 | | Board shall withhold from that Service Board 25% of
the cash | 3 | | proceeds of taxes imposed by the Authority under Section 4.03
| 4 | | and Section 4.03.1 and received after February 1 and 25% of the | 5 | | amounts transferred to the Authority from the Public | 6 | | Transportation Fund under Section 4.09(a) (but not including | 7 | | Section 4.09(a)(3)(iv)) after February 1 that the Board has | 8 | | estimated to be available to that Service Board under Section | 9 | | 4.11(a). Such funding shall be released to the Service Board | 10 | | only upon approval of a budget and financial plan under this | 11 | | Section or adoption of a budget and financial plan on behalf of | 12 | | the Service Board by the Authority.
| 13 | | (5) If the Board has not found that the budget and | 14 | | financial plan of a
Service Board meets the criteria specified | 15 | | in clauses (i) through (vii)
of subparagraph (2) of this | 16 | | paragraph (b), the Board, by the affirmative vote of at least | 17 | | 12 of its then Directors, shall
adopt a budget and
financial | 18 | | plan meeting such criteria for that Service Board.
| 19 | | (c)(1) If the Board shall at any time have received a
| 20 | | revised estimate, or revises any estimate the Board has made, | 21 | | pursuant to
this Section of the receipts to be collected by the | 22 | | Authority which, in
the judgment of the Board, requires a | 23 | | change in the estimates on which the
budget of any Service | 24 | | Board is based, the Board shall advise the affected
Service | 25 | | Board of such revised estimates, and such Service Board shall | 26 | | within
30 days after receipt of such advice submit a revised |
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| 1 | | budget incorporating
such revised estimates. If the revised | 2 | | estimates require, in the judgment
of the Board, that the | 3 | | system generated revenues recovery ratio of one or
more Service | 4 | | Boards be revised in order to allow the Authority to meet its
| 5 | | required ratio, the Board shall advise any such Service Board | 6 | | of its revised
ratio and such Service Board shall within 30 | 7 | | days after receipt of such
advice submit a revised budget | 8 | | incorporating such revised estimates or ratio.
| 9 | | (2) Each Service Board shall, within such period after the | 10 | | end of each
fiscal quarter as shall be specified by the Board, | 11 | | report to the Authority
its financial condition and results of | 12 | | operations and the financial condition
and results of | 13 | | operations of the public transportation services subject
to its | 14 | | jurisdiction, as at the end of and for such quarter. If in the | 15 | | judgment
of the Board such condition and results are not | 16 | | substantially in accordance
with such Service Board's budget | 17 | | for such period, the Board shall so advise
such Service Board | 18 | | and such Service Board shall within the period specified
by the | 19 | | Board submit a revised budget incorporating such results.
| 20 | | (3) If the Board shall determine that a revised budget | 21 | | submitted by a
Service Board pursuant to subparagraph (1) or | 22 | | (2) of this paragraph (c)
does not meet the criteria specified | 23 | | in clauses (i)
through (vii) of
subparagraph
(2) of paragraph | 24 | | (b) of this Section, the Board shall withhold from that Service | 25 | | Board 25% of the cash proceeds of taxes imposed by the | 26 | | Authority
under Section 4.03 or 4.03.1 and received by the |
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| 1 | | Authority after February 1 and 25% of the amounts transferred | 2 | | to the Authority from the Public Transportation Fund under | 3 | | Section 4.09(a) (but not including Section 4.09(a)(3)(iv)) | 4 | | after February 1 that the Board has estimated to be available | 5 | | to that Service Board under
Section 4.11(a). If the Service | 6 | | Board submits a revised financial plan and
budget which plan | 7 | | and budget shows that the criteria will be met within
a four | 8 | | quarter period, the Board shall release any such withheld funds | 9 | | to the
Service Board. The Board by the affirmative vote of at | 10 | | least 12
of its then Directors may
require a Service Board to | 11 | | submit a revised financial plan and budget which
shows that the | 12 | | criteria will be met in a time period less than four quarters.
| 13 | | (d) All budgets and financial plans, financial statements, | 14 | | audits and
other information presented to the Authority | 15 | | pursuant to this Section or
which may be required by the Board | 16 | | to permit it to monitor compliance with
the provisions of this | 17 | | Section shall be prepared and presented in such
manner and | 18 | | frequency and in such detail as shall have been prescribed by
| 19 | | the Board, shall be prepared on both an accrual and cash flow | 20 | | basis as
specified by the Board, shall present such information | 21 | | as the Authority shall prescribe that fairly presents the | 22 | | condition of any pension plan or trust for health care benefits | 23 | | with respect to retirees established by the Service Board and | 24 | | describes the plans of the Service Board to meet the | 25 | | requirements of Sections 4.02a and 4.02b, and shall identify | 26 | | and describe the assumptions and
projections employed in the |
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| 1 | | preparation
thereof to the extent required by the Board. If the | 2 | | Executive Director certifies that a Service Board has not | 3 | | presented its budget and two-year financial plan in conformity | 4 | | with the rules adopted by the Authority under the provisions of | 5 | | Section 4.01(f) and this subsection (d), and such certification | 6 | | is accepted by the affirmative vote of at least 12 of the then | 7 | | Directors of the Authority, the Authority shall not distribute | 8 | | to that Service Board any funds for operating purposes in | 9 | | excess of the amounts distributed for such purposes to the | 10 | | Service Board in the previous fiscal year. Except when the | 11 | | Board adopts
a budget and a financial plan for a Service Board | 12 | | under paragraph (b)(5),
a Service Board shall provide for such | 13 | | levels of transportation services
and fares or charges therefor | 14 | | as it deems appropriate and necessary in the
preparation of a | 15 | | budget and financial plan meeting the criteria set forth
in | 16 | | clauses (i)
through (vii) of subparagraph (2) of paragraph (b) | 17 | | of this
Section. The Authority
shall have access to and the | 18 | | right to examine and copy
all books, documents, papers, | 19 | | records, or other source data of a Service
Board relevant to | 20 | | any information submitted pursuant to this Section.
| 21 | | (e) Whenever this Section requires the Board to make | 22 | | determinations with
respect to estimates, budgets or financial | 23 | | plans, or rules or regulations
with respect thereto such | 24 | | determinations shall be made upon the affirmative
vote of at | 25 | | least 12
of the then Directors and shall be incorporated in a
| 26 | | written report of the Board and such report shall be submitted |
| | | 09700HB0585ham004 | - 19 - | LRB097 03412 RLJ 53601 a |
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| 1 | | within 10
days after such determinations are made to
the | 2 | | Governor, the Mayor of Chicago (if such determinations relate | 3 | | to the
Chicago Transit Authority), and the Auditor General of | 4 | | Illinois.
| 5 | | (Source: P.A. 94-370, eff. 7-29-05; 95-708, eff. 1-18-08.)
| 6 | | Section 99. Effective date. This Act takes effect upon | 7 | | becoming law.".
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