DOWNSTATE PUB TRANS FUNDS

Amends the Downstate Public Transportation Act, the Retailers' Occupation Tax Act, the Service Occupation Tax Act, the Use Tax Act, and the Service Use Tax Act. Beginning July 1, 2011, instead of use and occupation tax collections being deposited into the General Revenue Fund and then transferred monthly by the Comptroller from the General Revenue Fund to the Downstate Public Transportation Fund, requires the Department of Revenue to deposit the designated fraction of the net revenue realized from those collections directly into the Downstate Public Transportation Fund. Effective July 1, 2011.