IL SB2861

Department of Transportation authorized to enter agreements with local governments, rail carriers, the Regional Transportation Authority, and other entities to provide intercity railroad passenger service within Illinois and to adjacent states.

Department may enter trackage use agreements, haulage agreements, lease equipment, establish management agreements, obtain insurance, and make grants to cover capital or operating costs of intercity rail service.

Department lacks eminent domain power and cannot directly operate railroad service with its own employees.

Department may establish escrow accounts with Illinois banking corporations or national banks authorized to administer trusts, with funds deposited for railroad maintenance expenses and subject to 20-year maximum terms.

Escrow account funds may be withdrawn only with Department consent pursuant to written maintenance agreements, and remaining balances revert to State Treasury upon account termination; Department must provide annual reports to Comptroller and Treasurer on deposits, withdrawals, balances, and investment income.