Advocates said the measure and a new Chicago-area leadership board created by it will reimagine the role public transportation plays in the state’s economy and people’s lives.

The RTA held a special meeting to approve new funding projections for 2026 through 2028 based on revenue estimates from new funding sources for public transportation. Those were approved by the General Assembly last week, which Gov. JB Pritzker said he will sign.

Illinois lawmakers last week signed off on a sweeping $1.5 billion transit funding package that reshapes how the CTA, Metra and Pace are run and funded. The plan also creates what’s called the Northern Illinois Transit Authority to oversee the transit agencies.

State lawmakers approved new funding for public transportation agencies without large statewide tax increases previously proposed.

Gov. JB Pritzker on Wednesday expressed skepticism about some of the revenue streams House Democrats pitched in a transit rescue bill filed late Tuesday night.

Illinois lawmakers head back to Springfield next week to finish out their fall veto session with plenty on the agenda.

Riders would see their base fare for both bus and rail to increase by $0.25 — bringing the fare up to $2.50 for buses and $2.75 for rail — starting on Feb. 1, 2026, according to a CTA budget proposal released Monday.

Chicago-area public transit agencies are facing a fiscal cliff. The budget gap for CTA, Metra and Pace is at $200 million, according to the Regional Transportation Authority.

The announcement comes just a week and a half before lawmakers are set to return to Springfield for the fall veto session, during which numerous legislators say transit will be a main priority.

Chicago Transit Authority Acting President Nora Leerhsen said the agency has entered a “new phase” after the Illinois General Assembly failed last month to pass a measure tackling a $770 million budget gap for Chicago-area transit.

A version of the bill passed in the Senate, sponsored by Sen. Ram Villivalam, D-Chicago. But the House adjourned early Sunday morning without concurring as some of its tax hikes became too controversial. Now, the future of Chicagoland transit is in limbo as the bill awaits further action.

The measure, filed late Wednesday night, features a new menu of revenue sources to help keep Chicago-area buses and trains running. Lawmakers believe the measure will be enough to address the anticipated $770 million fiscal cliff next year.

The bill would replace the Regional Transportation Authority, which oversees CTA, Metra, and Pace, with a new entity called the Northern Illinois Transit Authority. It would be charged with creating a universal fare system and ensuring coordination of service and capital projects.

The Illinois General Assembly returned from the long weekend break for its final week of the spring session. Lawmakers have until May 31 to pass a revenue and spending plan with a simple majority of votes.

With just over two weeks to go before their spring adjournment, lawmakers in Springfield are facing a tight deadline to pass major reforms to Chicagoland’s transit system — but officials have released few concrete details.

If lawmakers don’t reach a deal to reform the northeastern Illinois transit system and introduce new funding before their May 31 adjournment, transit officials say it will result in significant cuts, which would result in a “nightmare scenario,” according to Regional Transportation Authority spokesperson Tina Fassett Smith.