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Who Says Illinois is Broke? $1.1 Billion for Capital Spending

Illinois Issues 30 May 2014 No Comment

The House approved more than $1 billion in capital construction spending, the bulk of which would be spent by the Illinois Department of Transportation on “shovel ready” projects.

Illinois_House_of_Representatives

 

House Bill 3794 calls for $1.1 billion in construction spending, $1 billion of which would go to road and bridge projects included in IDOT’s 5-year plan. The bill does not list the projects because they would be determined by IDOT, but sponsor Rep. Luis Arroyo said that the department plans to prioritize projects that are ready to go during the summer construction season. The remaining $100 million would go to local street repair projects. The money for construction would come from funding sources approved as part of the 1999 Illinois First capital program. Borrowing for the plan has been paid off, but the increased fees and taxes remain. “Some of that debt has been retired. It’s been paid off, and the revenue stream that was used to support it is now available,” said House Speaker Michael Madigan.

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