HB 5728

Abstract

Amends the Downstate Public Transportation Act. Provides that the annual increase in a participant's maximum eligible operating expenses is the percentage increase in the net revenue realized under the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act in the preceding fiscal year (now, 10%). Makes changes in the definition of "operating expenses". In provisions concerning grants, provides that any procurement by a participant using debt service for which operating reimbursement will be requested shall not be subject to the Department's procurement process, but shall be subject to a locally approved procurement process that complies with all federal procurement standards. Provides that, in Fiscal Year 2013, all funds remaining in the Downstate Public Transportation Fund after the payments have been made to participants shall remain in the Downstate Public Transportation Fund. Provides that, in Fiscal Year 2014 and thereafter, an amount equal to the difference between the appropriations from the Downstate Public Transportation Fund in the preceding fiscal year and moneys deposited into that Fund in the preceding fiscal year shall be transferred from the Downstate Public Transportation Fund to the Downstate Transit Improvement Fund (now, the entire amount remaining in the Downstate Public Transportation Fund is transferred to the Downstate Transit Improvement Fund). Effective immediately.