(Section scheduled to be repealed on July 1, 2032)

206 words·~1 min read·/il/chapter-630/act-10/1-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 55. Funding and financing.

(a)The Transportation Agency may use any lawful source of funding and financing to compensate a design-builder and Construction Manager/General Contractor for work and services performed under a design-build contract or Construction Manager/General Contractor contract, as applicable, and the Transportation Agency may combine federal, State, local, and private funds to finance a transportation facility. Any Transportation Agency that administers a construction program for which federal law or regulations establish standards and procedures for the utilization of minority-owned and women-owned businesses and disadvantaged businesses shall implement a disadvantaged business enterprise program to include minority-owned and women-owned businesses and disadvantaged businesses, using the federal standards and procedures for the establishment of goals and utilization procedures for the State-funded, as well as the federally assisted, portions of the program. In cases of federal funding or federally assisted projects, these goals shall not exceed those established pursuant to the relevant and applicable federal statutes or regulations.

(b)Subject to appropriation by the General Assembly of the required amounts, the Transportation Agency may obligate and make expenditures of funds as and when needed to satisfy its payment obligations under a design-build contract or Construction Manager/General Contractor contract.