Senate Sponsors: LAUZEN. Short description: TOLL HWY-BONDS-APROPRIATIONS Synopsis of Bill as introduced: Amends the Toll Highway Act. Provides that the Toll Highway Act shall constitute an irrevocable and continuing appropriation from the Illinois State Toll Highway Authority Fund for amounts to pay principal, interest, and other bond expenses and obligations (instead of the Fund being considered always appropriated for repayment of debt service and other bond obligations). Provides that all other expenses are subject to annual appropriation by the General Assembly from the Fund (or from other funds) for each fiscal year. Provides that only those amounts appropriated to the Authority other than from the Fund shall be repaid. Provides that before bonds may be issued for or construction may be commenced on any new segment of toll highway, the issuance of bonds for or the commencement of construction of that particular segment must be approved by the General Assembly by law (rather than being authorized by joint resolution of the General Assembly). Provides that any general increase in toll rates must have the prior approval of the General Assembly, by a three-fifths majority vote. Provides that the Toll Highway Authority may issue bonds to implement its capital plan only in amounts and for purposes that have been approved by law. Provides that for all outstanding bonds issued by the Authority before the effective date of the amendatory Act, the State guarantees the timely payment of any principal or interest that is not paid by the Authority when due, with recourse to the Court of Claims. The Authority shall, with respect to all revenue bonds outstanding as of the effective date of the amendatory Act, maintain in a debt service fund an amount equal to 140% of the amount needed to pay annual debt service or the bonds. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status