HB5749 Summary

• Amends the Metropolitan Transit Authority Act to require board members appointed on and after the effective date to owe a fiduciary duty to the Board and the Regional Transportation Authority.

• Amends the Regional Transportation Authority Act to impose the same fiduciary duty requirement on Directors of the RTA Board appointed after the effective date.

• Requires members of the Chicago Transit Board, Suburban Bus Board, and Commuter Rail Board appointed after the effective date to owe fiduciary duties to their respective service boards and to the Regional Transportation Authority.

• Applies to all appointments made on or after the effective date of this 98th General Assembly amendatory act.