Tom Warne Report, 20 July 2012
Illinois is moving forward with $1.6 billion in transportation work throughout the state after Gov. Pat Quinn signed a bill into law providing bond funding to continue the Illinois Jobs Now capital improvement program. The state will repay the bonds over the next 20 to 30 years using revenue from increased license and registration fees, as well as from expanding legalized gambling and higher taxes.
“Three years ago, we passed the largest capital construction program in Illinois history to put people to work repairing roads, bridges and transit systems across the state,” Gov. Quinn said in a statement. “Illinois Jobs Now is strengthening our economy and infrastructure every day.”
Fiscal year 2013 is allotted about $820 million in new road projects across the state and an additional $800 million for rail and transit. Projects have already been approved for this year’s bill under the three-year-old program and will remain on schedule.