RTA-CASH NOTE & LINE OF CREDIT

Amends the Regional Transportation Authority Act. Provides that the Regional Transportation Authority may issue, sell, and deliver additional working cash notes and establish lines of credit (rather than only working cash notes) before July 1, 2022 (rather than July 1, 2018) that are over and above and in addition to the $100,000,000 bond or note authorization. Establishes procedures for establishment of lines of credit. Requires notice to the Governor's Office of Management and Budget and State Comptroller before establishing a line of credit and provides that money borrowed under a line of credit are general obligations of the Authority that are secured by the full faith and credit of the Authority. Effective immediately. Senate Committee Amendment No. 1 Deletes reference to: 70 ILCS 3615/4.04 from Ch. 111 2/3, par. 704.04 Adds reference to: 70 ILCS 3615/1.01 from Ch. 111 2/3, par. 701.01 Replaces everything after the enacting clause. Amends the Regional Transportation Authority Act. Makes a technical change in a Section concerning the short title.