SB3181sam001 98TH GENERAL ASSEMBLY

Sen. Julie A. Morrison

Filed: 3/20/2014

09800SB3181sam001 LRB098 20014 HLH 56716 a

AMENDMENT TO SENATE BILL 3181

AMENDMENT NO. ______. Amend Senate Bill 3181 by replacing everything after the enacting clause with the following:

"Section 5. The State Finance Act is amended by adding Sections 5.855 and 5.856 as follows:

(30 ILCS 105/5.855 new)

Sec. 5.855. The Oil and Gas Impact Fund.

(30 ILCS 105/5.856 new)

Sec. 5.856. The Permanent Fossil Fuels Fund.

Section 10. The Illinois Hydraulic Fracturing Tax Act is amended by changing Section 2-75 as follows:

(35 ILCS 450/2-75)

Sec. 2-75. Distribution of proceeds.

(a) The Oil and Gas Impact Fund and the Permanent Fossil Fuels Fund are hereby created as special funds in the State treasury.

(b) All moneys received by the Department under this Act shall be paid into the Oil and Gas Impact Fund paid into the General Revenue Fund in the State treasury.

(c) Each month, the State Comptroller shall order transferred and the State Treasurer shall transfer from the Oil and Gas Impact Fund to the Permanent Fossil Fuels Fund an amount equal to 5% of the moneys received by the Department under this Act during the immediately preceding month. In each State fiscal year, an amount equal to 5% of the accumulated principal amount available in the Permanent Fossil Fuels Fund on the last day of the immediately preceding State fiscal year shall be used to supplement other funds appropriated for the following programs:

(1) 50% of that money shall be used by the Department of Commerce and Economic Opportunity to make grants and provide other support for renewable energy projects, as defined by the Illinois Power Agency Act, and workforce training programs for renewable energy industries; in awarding grants and other support for renewable energy projects using these funds, the Department of Commerce and Economic Opportunity shall give priority to applications for viable projects in counties from which revenues have been received under this Act; and

(2) 50% of that money shall be used by the Department of Natural Resources to support the acquisition, management, and restoration of conservation lands; the Department of Natural Resources shall give first priority to viable acquisition, management, and restoration projects in counties from which revenues have been received under this Act.

The remainder of the moneys in the Permanent Fossil Fuels Fund shall be invested, and earnings on the investments shall be retained in the Fund.

(d) The remaining moneys in the Oil and Gas Impact Fund shall be used, subject to appropriation, by the Department of Natural Resources for any of the following purposes:

(1) remediation of legacy oil, gas, and abandoned well plugging and reclamation projects;

(2) reclamation and remediation of drilling sites and legacy pollution problems from drilling sites;

(3) costs associated with enforcement, monitoring, data collection, and other costs of implementing and enforcing oil and gas statutes; or

(4) costs associated with inspection, detection, and repair of leaks in gas pipelines or other infrastructure.

(e) Within 30 days after the end of the lapse period for each State fiscal year, the State Comptroller shall order transferred and the State Treasurer shall transfer from the Oil and Gas Impact Fund to the Permanent Fossil Fuels Fund any unobligated and unexpended moneys remaining in the Oil and Gas Impact Fund from the previous fiscal year.

(f) The moneys deposited into the Oil and Gas Impact Fund and the Permanent Fossil Fuels Fund under this Section shall not be subject to sweeps, borrowing, administrative charges or chargebacks, or other uses not specified by this Section.

(Source: P.A. 98-22, eff. 6-17-13.)".