House Sponsors: MORROW-GRANBERG-DAVIS,MONIQUE-JONES,LOU-MILLER, SLONE, YARBROUGH AND HAMOS. Senate Sponsors: RAUSCHENBERGER-PARKER Short description: DOT-TOLL-DISCLOSE LAND PRICE Synopsis of Bill as introduced: Creates the Transportation and Toll Highway Property Transaction Act. Requires the Department of Transportation and the Illinois State Toll Highway Authority to disclose to the Department of Central Management Services information concerning the acquisition of real property using State moneys, including the identity of the owners, the fair market value, the purchase price, the bidding method, and the State use. Requires that the price at which the Department of Transportation sells real property to the Toll Highway Authority be within 5% of its fair market value. Requires that the fair market values of real properties exchanged by the Department and the Authority be within 5% of each other. STATE MANDATES NOTE (Dept. of Commerce and Community Affairs) In the opinion of DCCA, HB 418 does not create a State mandate under the State Mandates Act. FISCAL NOTE (Illinois State Toll Highway Authority) It is the understanding of the Authority that the Department of Transportation has expended $51 million to acquire property associated with potential future tollway extensions. However, these parcels have not been appraised to determine their cur- rent fair market value. Therefore, should the Tollway reim- burse IDOT for these parcels, at their current value, the true fiscal impact of this legislation cannot be determined. FISCAL NOTE (Department of Transportation) The cost of properties acquired by the Illinois Department of Transportation associated with ongoing toll highway projects is approximately $51 million. Until the parcels have been appraised for the current fair market value, there is no way of determining the true fiscal impact of this legislation. SENATE AMENDMENT NO. 1. Deletes reference to: New Act Adds reference to: 605 ILCS 10/9.12 new Deletes everything. Amends the Toll Highway Act. Provides that before the Illinois Toll Highway Authority may enter into any contract relating to the ownership or use of real property, the identity of every owner and beneficiary having any interest in the property must be disclosed. Establishes requirements for disclosure. Effective immediately. SENATE AMENDMENT NO. 2. Deletes reference to: New Act Adds reference to: 605 ILCS 10/9.12 new Deletes everything. Amends the Toll Highway Act. Provides that the Illinois State Toll Highway Authority may not enter into any agreement or understanding for the use or acquisition of land that is intended to be used or acquired for toll highway purposes unless full disclosure of all individuals and entities holding any beneficial interest in the land is made. Provides that if the Authority commences condemnation proceedings to acquire land for a toll highway, holders of all beneficial interests must make full disclosure, unless the court determines that disclosure would cause one or more of them irreparable harm. Requires the statement to be in writing, verified under penalty of perjury, and recorded. Provides that a person who violates the provision is guilty of a business offense and shall be fined $10,000. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2 END OF INQUIRY Full Text Bill Status