Bill > SB2658

This bill amends the Downstate Public Transportation Act to increase funding for public transportation in downstate Illinois by modifying how tax revenues are transferred to the Downstate Public Transportation Fund. Specifically, the bill changes the percentage of net revenue from several state tax acts (including Retailers' Occupation Tax, Service Occupation Tax, Use Tax, and Service Use Tax) that will be transferred to the fund. Currently, 3/32 of 80% of these tax revenues are transferred, but the bill establishes a phased increase: from July 1, 2025 through July 1, 2033, 3/32 of 100% will be transferred, and on and after July 1, 2033, 4/32 of 100% will be transferred. Additionally, the bill introduces a new provision starting July 1, 2026, where each participant's annual appropriation will increase based on the year-over-year percentage increase in revenue deposited into the Downstate Public Transportation Fund. If there's a reduction in fund revenue, the appropriation will remain the same as the previous fiscal year. The goal is to provide more stable and increased funding for public transportation services in downstate Illinois municipalities and counties.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2658&GAID=18&DocTypeID=SB&SessionID=114&GA=104