SB2941

SB2941 amends the Regional Transportation Authority Act to change how tax revenues are distributed among entities, including the Chicago Transit.

SB2941 amends the Regional Transportation Authority Act to modify the distribution of tax revenues among various entities. For fiscal years 2027, 2028, and 2029, the Authority will allocate funds to the Service Boards based on certain tax receipts and other criteria. Specifically, the bill removes the restriction that county funding cannot be used to reduce state or other funding. It also changes the allocation percentages for different counties and tax rates. The bill ensures funds are divided equally among all entities and outlines specific allocations for different tax revenues.