In 1951, the Indiana General Assembly created the Indiana Toll Commission with the mandate to construct, own, operate and maintain the Indiana Toll Road. Construction began on the ITR in September 1954 and the highway was opened in sections between August and November 1956.
In 1983, the General Assembly created the Indiana Toll Finance Authority and authorized it to enter into contracts or leases with the Indiana Department of Highways to own and operate all toll roads and bridges throughout the state. The Authority took over responsibility for operating the ITR and was later renamed the Indiana Transportation Finance Authority in 1988. In 2003, the state created the Indiana Finance Authority (IFA) to consolidate several state financial agencies including the Transportation Finance Authority. As under its predecessors, the IFA retained ownership of the ITR and other state-owned toll facilities. The ITR continued to be operated by the successor to the Department of Highways, the Indiana Department of Transportation (INDOT).
Originally, the ITR used a ticket toll system for its entire length, with toll rates determined by the distance traveled and vehicle class (i.e., 2-axle, 4-axle, etc.). In July 1986, INDOT converted the western section of the ITR in the Chicago area to a barrier toll system and equipped the entire facility with a computerized toll collection system. At the time of its lease in 2006, toll rates had not been increased since October 1985.