HIGH SPEED RAIL STOCK FUND House SponsorsRep. Sharon Chung-Matt Hanson Senate Sponsors(Sen. Steve Stadelman) 7/19/2024HousePublic Act . . . . . . . . . 103-0707 20 ILCS 2705/2705-440was 20 ILCS 2705/49.25h Amends the Department of Transportation Law of the Civil Administrative Code of Illinois. Provides that whenever the Department of Transportation enters into an agreement with any state or state agency, any public or private entity or quasi-public entity for the lease, rental, or use of locomotives, passenger railcars, and other rolling stock equipment or accessions, the Department may deposit such receipts into a separate escrow account. Allows funds in an escrow account holding lease payments, use fees, or rental payments to be withdrawn by the Department with the consent of the Midwest Fleet Pool Board, and deposited into the High-Speed Rolling Stock Fund. Provides that at the end of the term of an escrow account holding lease payments, use fees, or rental payments, the remaining balance shall be deposited in the High-Speed Rail Rolling Stock Fund. Provides that whenever the Department enters into an agreement with any carrier, state or state agency, any public or private entity, or quasi-public entity for costs related to procurement and maintenance of locomotives, passenger railcars, and other rolling stock equipment or accessions, the Department shall deposit such receipts into the High-Speed Rolling Stock Fund. Provides that the Department may make transfers or payments into the High-Speed Rail Rolling Stock Fund for the State's share of the costs related to locomotives, passenger railcars, and other rolling stock equipment.House Floor Amendment No. 1 Corrects typographical errors. Removes language providing that the Department of Transportation may make transfers into the High-Speed Rail Rolling Stock Fund for the State's share of the costs related to locomotives, passenger railcars, and other rolling stock equipment. 2/9/2024HouseFiled with the Clerk by Rep. Sharon Chung 2/9/2024HouseFirst Reading 2/9/2024HouseReferred to Rules Committee 3/12/2024HouseAssigned to State Government Administration Committee 3/21/2024HouseDo Pass / Short Debate State Government Administration Committee; 009-000-000 3/22/2024HouseAdded Chief Co-Sponsor Rep. Matt Hanson 3/22/2024HousePlaced on Calendar 2nd Reading - Short Debate 4/2/2024HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Sharon Chung 4/2/2024HouseHouse Floor Amendment No. 1 Referred to Rules Committee 4/3/2024HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000 4/11/2024HouseSecond Reading - Short Debate 4/11/2024HouseHouse Floor Amendment No. 1 Adopted 4/11/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/17/2024HouseThird Reading - Short Debate - Passed 108-000-000 4/18/2024SenateArrive in Senate 4/18/2024SenatePlaced on Calendar Order of First Reading April 30, 2024 4/24/2024SenateChief Senate Sponsor Sen. Steve Stadelman 4/24/2024SenateFirst Reading 4/24/2024SenateReferred to Assignments 4/30/2024SenateAssigned to Transportation 4/30/2024SenateRule 2-10 Committee Deadline Established As May 10, 2024 5/8/2024SenateDo Pass Transportation; 014-000-000 5/8/2024SenatePlaced on Calendar Order of 2nd Reading May 9, 2024 5/9/2024SenateSecond Reading 5/9/2024SenatePlaced on Calendar Order of 3rd Reading 5/16/2024SenateThird Reading - Passed; 059-000-000 5/16/2024HousePassed Both Houses 6/13/2024HouseSent to the Governor 7/19/2024HouseGovernor Approved 7/19/2024HouseEffective Date January 1, 2025 7/19/2024HousePublic Act . . . . . . . . . 103-0707