Amends the Airport Authorities Act. Creates the Central Illinois Regional Airport Authority. Provides that the territory of the Authority shall be the corporate limits of McLean County and that any existing airport authority located within McLean County is dissolved upon the establishment of the Authority. Provides that the new Authority shall assume the rights to all property, assets, and liabilities of any dissolved authority. Further provides for the appointment of the board members. Provides that of the 3 commissioners appointed by the county board chairman, 2 shall reside in rural municipalities with a population less than 5,000 and one shall reside in an unincorporated area of McLean County. Makes changes in terminology. Effective immediately.