CHICAGO — Illinois Gov. Pat Quinn this week signed legislation that paves the way for the state's future use of public-private partnerships to finance transportation projects, a change supporters hope will jump-start proposed projects that lack public funding.
The Public-Private Partnership for Transportation Act enables the state Department of Transportation and the Illinois State Toll Highway Authority to develop, finance, and operate transportation facilities by partnering with private entities. It lays out a framework for the agreements, operating standards, financing arrangements, and labor and oversight. It also limits the privatization of existing transportation assets through leases to private companies.