SPRINGFIELD, Ill. (WLS) — A pair of proposed bills are under discussion by state legislators aiming to reform public transit systems and secure revenue to prevent imminent threats of employee layoffs and reductions in services.

Some of the proposed revenue sources include new tolls on suburban drivers and fees for charging electric vehicles.

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But those are running into some early opposition, with time running out to work out compromises.

According to transit authorities, a requirement of $771 million for the next year, along with a stable annual funding of $1.5 billion, is essential to keep the CTA, Metra, and Pace functioning, and to avert significant job losses or service reductions.

A new Senate bill proposes to raise enough money to avoid the pending fiscal cliff.

SEE MORE: State lawmakers seek to cover budget shortfall, avoid doomsday deadline for mass transportation

“Our objective is to finance a transit system that will endure not just for the immediate future, but for many years ahead. If we fail to take action, the consequences are clear: a potential 40% cut in service,” stated Democratic state Sen. Ram Villivalam, a Northwest Side representative and one of the bill’s sponsors.

The funding plan includes up to a dollar a day tollway surcharge in the Chicago metro region, an additional 10% tax on rideshares originating in Chicago and the five collar counties and a surcharge up to $500 on property sales in Chicago.

But, lawmakers are already working on changes.

“The bill that finally, that eventually passes the General Assembly, that we will send to Gov. Pritzker’s desk will be a bill that was worked through the process. It will not be any of these, either one of these bills in their current version. We’re already working on amendments,” said state Rep. Kam Buckner, speaker pro-tempore and budgeteer.

On Thursday, several transit unions gathered outside Union Station as part of an awareness and pressure campaign on lawmakers to get something done to make the needed funding happen.

“This isn’t about us. This is about Chicago. This is about Illinois, and legislators want to be able to make good on their word of delivering for their constituents. So, we feel very good that we that, you know, legislators are committed to getting this done,” said Alyssa Goodstein, communications director for Illinois AFL-CIO.

“I think that folks will see a final version of this bill on the floor, either in the House or the Senate very soon. It may take the remainder of time we have left, but what’s more, most, important to us is not just getting this done quickly, but it’s making sure that we get it done right,” Buckner said.

Buckner said something could be brought to the floor very late Friday night, and he’s already expecting lawmakers will still be in session past midnight on Friday, with Saturday at 11:59 p.m. being the deadline to get the entire budget passed.