Illinois Enacts Transportation 'Lockbox,' a Credit-Negative Constraint on Spending Tax Revenues
ISSUER COMMENT U.S. PUBLIC FINANCE NOVEMBER 10, 2016 Illinois Enacts Transportation ‘Lockbox,’ a Credit-Negative Constraint on Spending Tax Revenues From U.S. Public Finance Weekly Credit Outlook On Tuesday, Illinois (Baa2 negative) voters amended their state constitution to restrict use of transportation revenues to highway, mass-transit and related projects, in an effort to safeguard infrastruct
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