GASH-HOEFT-SCULLY-SKINNER-HANNIG, LINDNER, O'BRIEN AND SCHOENBERG.
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 competitive bidding of
Authority bond issuance service contracts over $25,000. 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 (DOT)
Annual operations costs would be $35 million, excluding toll
booth operations. Capital improvements, such as resurfacing &
bridge rehabilitation, would be an additional $150 million to
$200 million per year.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status