The Illinois General Assembly has passed the state’s first Capital Bill in 10 years – a $45 billion multi-year package of transportation (horizontal) and building (vertical) improvements.
The program, branded “Rebuild Illinois” will spend roughly:
- $28.6 billion on transportation;
- $5.9 billion on education facilities at both higher education and K-12;
- $4.4 billion in deferred maintenance at state facilities;
- $1 billion in environment and conservation projects;
- $711 million in economic and community development;
- $440 million on healthcare and human services facilities, and
- $420 million in broadband deployment.
Funding for the plan will come from a variety of sources including increases to gas taxes, license plate and vehicle registration fees, cigarette taxes, garage and parking lot taxes, as well as from revenues captured from expanded gambling and sports betting, the Construction Industry Service Corporation (CISCO) reports in its newsletter.
Other funding relies on bonding and federal funds.
The Governor’s Office says that the “Rebuild Illinois” program will create 540,000 jobs.