SB2387 Summary

• Grants the Chairman of the Regional Transportation Authority (RTA) Board the power to approve, reduce, or veto budget items submitted by Service Boards (Chicago Transit Authority, Suburban Bus Board, and Commuter Rail Board).

• Requires Service Boards to submit budgets and 2-year financial plans to the Chairman for approval rather than directly to the full RTA Board.

• Establishes a veto override procedure allowing the RTA Board to restore vetoed or reduced items by a record vote of 14 members within 30 calendar days of the veto.

• Makes conforming changes to budget approval procedures across the Metropolitan Transit Authority Act and Regional Transportation Authority Act.

• Takes effect January 1, 2014.