HB 2981

Abstract

Amends the Illinois Highway Code. Directs various governmental bodies to prepare and submit specified reports at stated intervals. Amends the Illinois Finance Authority Act to authorize a revolving loan program and actions for the delivery of public purpose projects on behalf of units of local government. Amends the Illinois Procurement Code. Provides that the Code does not apply to certain contracts entered into on or before December 31, 2022. Amends the Illinois Income Tax Act to create a credit for railroad track maintenance. Amends the Property Tax Code. Provides that certain tax-exempt property that is leased to another party for a public purpose project shall remain exempt from taxation. Amends the Regional Transportation Authority Act. Provides that the Authority may establish a line of credit with a bank or other financial institution. Amends the Illinois Vehicle Code to remove the registration discount for electric motor vehicles. Amends the Public-Private Partnerships for Transportation Act. Provides that potential projects may not move forward if the General Assembly declares by joint resolution that the project is not in the public interest. Amends the Build Illinois Act. Repeals the Port Development Revolving Loan Program.