Budgeting and Appropriations | Annual budget; fiscal year begins July 1. |
Bonding or Pay-as-You-Go | Pay-as-you-go is the main financing approach; bonding typically requires extraordinary action by the governor and the General Assembly. |
State-Level Funding Provided for DOT Budgets | FY 2011 (approved): (No data) |
Allocation of Federal Transportation Funds to the DOT | Federal transportation funds are assumed as a revenue source in the annual and multi-year transportation plans and are reflected in overall appropriation levels, but no legislative action is tied directly to federal funding. |
Allocation of State Transportation Funds to the DOT | State transportation funds are allocated to IDOT as state legislative appropriations at the agency, program and project-specific levels. IDOT is required to prepare and present transportation plans to the General Assembly, but the General Assembly does not formally adopt these plans. Rather, the General Assembly approves or modifies the appropriation level. |
Traditional State Funding and Finance for Highways | Fuel taxes; vehicle registration/license/title fees; truck weight fees; interest income; oversize/over-weight truck permits; logo signing; general obligation bonds. Toll revenues are retained by the Illinois Toll Highway Authority, which technically is not a state agency. |
State Funding and Finance for Other Modes | Transit: General obligation bonds; general funds. Rail, aviation, ports: General obligation bonds. Bridges: Fuel tax; vehicle registration/license/title fees; interest income; general obligation bonds. |
Innovative Transportation Funding and Finance | Private activity bonds (PABs) (allocated); Build America Bonds; PPPs (authorized in statute for high-speed rail, magnetic levitation systems and the proposed Illiana Expressway; used at the city level for the Chicago Skyway); design-build (authorized for regional transportation authorities in statute); traffic camera fees; impact fees; advance construction; toll credits or "soft match." |
Dedicated/Restricted State Funds and Revenues | Fuel taxes, vehicle registration/licensing/title fees, truck weight fees, interest income and logo signing are dedicated revenues that are distributed by statutory formula or direction (e.g., Ill. Rev. Stat. ch. 625, §5/20-101). Road Fund appropriations are limited to approved uses, including debt payment, highways and certain administrative expenses (Ill. Rev. Stat. ch. 30, §105/8.3). Funds deposited into the State Construction Account must be used for construction, reconstruction and maintenance of the state-maintained highway system (Ill. Rev. Stat. ch. 30, §105/5d). Special state funds also support transit and freight rail (Ill. Rev. Stat. ch. 30, §105/5.241 and §105/5.152 and 105/5.168). The use of general obligation bonds is limited to the purposes specified in the authorizing bond act. |
DOT Authorized to Retain Surplus Funds | No. Unobligated appropriations lapse if they are not reappropriated into the succeeding fiscal year by explicit action of the governor and the General Assembly. |
Legislative Approval Required to Move Funds Between Projects | Yes, if the appropriation is project-specific. In that case, a change in the appropriation is needed for IDOT to repurpose those funds. No further legislative action is required for lump sum or programlevel appropriations. The General Assembly also can impose "release requirements," which require IDOT to obtain special permission from the governor to use certain appropriations. Released appropriations must be de-released and re-released if they are to be used for another purpose. |
Transportation Funding Allocations through Local Aid | After set-asides, 54.4 percent of fuel tax revenues are shared with local entities. Of that amount, 49.1 percent is distributed to municipalities by a statutory formula based on population; 16.74 percent to counties with 1 million or more inhabitants (Cook County only); 18.27 percent to counties having fewer than 1 million inhabitants by a statutory formula based on motor vehicle license fees; and 15.89 to road districts by a statutory formula based on road mileage (Ill. Rev. Stat, ch. 35, §505/8). A certain percentage of federal funds also is allocated annually to the local program and distributed to local agencies by formula. The state has enacted separate appropriations for the local match of certain federal funds and the local share of the annual highway program. A series of separate appropriations termed "local benefits," each with its own distribution method, also are made each year. |