REGIONAL TRANSPORTATION

Amends the Regional Transportation Authority Act. Adds a provision related to legislative findings. Requires the Regional Transportation Authority to provide financial oversight of the Service Boards, allocate operating and capital funds made available to support public transportation in the metropolitan region, and undertake certain planning functions. Provides that the Authority to adopt certain plans and budgets. Requires the Authority to conduct audits of the Service Boards. Requires the the Authority to establish certain special funds. Makes changes concerning the resolution of disputes between Service Boards. Sets forth certain functions of the Board of the Authority. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning on January 1, 2008, with respect to motor fuel and gasohol the tax under the Acts is imposed at the rate of 1.25% (now, 6.25%). Amends the Motor Fuel Tax Law. Imposes an additional tax of $0.08 per gallon on motor fuel sold in this State. Provides that the proceeds of this additional tax must be deposited into the Metropolitan Transit and Road Improvement Fund and sets forth the distributions from that Fund. Provides for the monthly transfer of certain matching funds from the General Revenue Fund to the Public Transportation Fund. Amends the Illinois Municipal Code. Authorizes home rule municipalities to impose a real estate transfer tax for the purpose of providing financial assistance to the Chicago Transit Authority. Makes changes concerning the directors of the Regional Transportation Authority and the Board of the Commuter Rail Division. Makes numerous other changes concerning the operation of regional transportation. Effective immediately.