After months of debate, Illinois legislators released a transit reform proposal that renames the Regional Transportation Authority, establishes a consolidated police force and creates a universal fare system for the Chicago area’s mass transit agencies.

But a gaping hole in the plan still remains. The bill does not address revenue options to pay for it.

The proposed changes come as the RTA system faces a $770 million budget shortfall. Legislators in Springfield have seized the moment to rehab the region’s ailing transit agencies using the mantra “no funding without reform.”

Under the latest proposal, the RTA would be rebranded as the Northern Illinois Transit Authority (NITA) and assume greater responsibility coordinating rides and fares between Metra, Pace and the Chicago Transit Autho

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