IL HB5605

Creates the Toll Highway Oasis Reinvestment Act to require the Illinois State Toll Highway Authority to offer adjacent land to local governments when an oasis operating for more than 5 years is removed due to toll highway expansion.

Land transfers to local governments must be structured as 50-year lease agreements with two successive 25-year renewal options.

Local governments must pay the Authority a fee equal to 5% of gross revenue generated from the redeveloped oasis throughout the lease term and all renewal periods.

Local governments accepting the land transfer must enter into a project labor agreement for all construction, renovation, or development work on the oasis that adheres to local labor standards and regulations.

Grants the Authority rulemaking authority to implement rules and regulations necessary to administer the Act.