House Sponsors: SCHOENBERG. Short description: TOLL HIWAY AUTH-SPL FUND-BONDS Synopsis of Bill as introduced: Amends the Toll Highway Act. To general requirement that appropriations for payment of expenses incurred as part of cost of toll highway financed by revenue bonds issued by the Toll Highway Authority be repaid to the State Treasury out of bond sale proceeds, excepts appropriations from the Illinois State Toll Highway Authority Fund. Provides that the Act constitutes an irrevocable and continuing appropriation from the Illinois State Toll Highway Authority Fund for amounts to pay bond expenses and obligations. Eliminates provision that the Illinois State Toll Highway Authority Fund shall be considered always appropriated for the purposes of disbursements. Provides that the ordinary and contingent expenses for the Illinois State Toll Highway Authority's annual operations are subject to annual appropriation by the General Assembly for each fiscal year. FISCAL NOTE (Ill. State Toll Highway Authority) There would be an increased interest cost of $28 M for refund- ing outstanding bonds; the $900 M outstanding debt would become a contingent liability of the State; State credit rating could be further downgraded. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status