House Sponsors: FRANKS. Short description: HWY CD-CONVEYANCE-TOLL AUTH Synopsis of Bill as introduced: Amends the Illinois Highway Code. Provides that when the Department of Transportation conveys to the Illinois State Toll Highway Authority an interest in land, rights or other property acquired in connection with a federal-aid project that ceases to exist, the Department must receive compensation equal to the fair market value of the interest conveyed (instead of no compensation), to be deposited into the Road Fund. STATE DEBT NOTE (Economic and Fiscal Commission) HB 1738 would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness. FISCAL NOTE (Illinois State Toll Highway Authority) It is the understanding of the Authority that the cost of properties acquired by IDOT associated with potential Tollway Authority projects is $51 million. Until these parcels have been appraised for their current fair market value, there is no way of determining the true fiscal impact of HB 1738. FISCAL NOTE (Department of Transportation) The Department paid a total of $51 million for the parcels re- maining to be transferred to the Toll Highway Authority. It can be assumed that the current fair market value will likely be greater than $51 million, but until appraisals are completed the fair market value is indeterminate. 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