NORTHEASTERN TRANSIT AUTHORITY

Amends the Metropolitan Transit Authority Act and the Regional Transportation Authority Act. Provides that, by no later than July 1, 2012, the Regional Transportation Authority, Commuter Rail Division, Suburban Bus Division, and Chicago Transit Authority shall be consolidated into the Northeastern Transit Authority. Provides that the powers, duties, and obligations of the Regional Transportation Authority, Commuter Rail Division, Suburban Bus Division, and Chicago Transit Authority shall be exercised by the Northeastern Transit Authority. Creates the Northeastern Transit Authority. Sets forth the appointment and terms of the board members for the Northeastern Transit Authority. Provides that board members shall serve without compensation, but may be reimbursed for expenses incurred in the performance of their official duties. Effective immediately.