The Highway Trust Fund, supported largely through user fees by way of federal gas tax revenues, serves as the primary mechanism for states to fund road and transit construction and maintenance projects.
In a major policy shift with potentially large implications for US infrastructure public-private partnership ("PPP") activity, the Obama administration has proposed to change federal law to give US states broad authority to put tolls on existing interstate highways to provide funding for transportation purposes.
The US Securities and Exchange Commission (SEC) recently took action to curb pay-to-play abuses with respect to investment advisory services for any "plan or program of a government entity"; essentially, any state or local pension funds, retirement systems or other government plans (all referred to herein as government plans).
Entities doing business with the Illinois state government or with local governments in Illinois should be aware of several new laws related to campaign finance, ethics, public records, lobbying and procurement that are effective in 2010. In short, the laws and changes are as follows:
In response to investigations into alleged corrupt practices involving the use of placement agents with respect to public pension funds, retirement systems and other government fund entities, both the Illinois legislature and the New York State Comptroller took action in April of this year to restrict the use of placement agents.
Illinois Public Act 096-0028 (the “Act”) became effective June 30, 2009. The Act permits wind energy projects across Illinois to obtain exemptions from sales and use taxes by direct application to the state.