Sen. Julie A. Morrison

Filed: 3/20/2014

 

 


 

 


 
09800SB3181sam001LRB098 20014 HLH 56716 a

1
AMENDMENT TO SENATE BILL 3181

2    AMENDMENT NO. ______. Amend Senate Bill 3181 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The State Finance Act is amended by adding
5Sections 5.855 and 5.856 as follows:
 
6    (30 ILCS 105/5.855 new)
7    Sec. 5.855. The Oil and Gas Impact Fund.
 
8    (30 ILCS 105/5.856 new)
9    Sec. 5.856. The Permanent Fossil Fuels Fund.
 
10    Section 10. The Illinois Hydraulic Fracturing Tax Act is
11amended by changing Section 2-75 as follows:
 
12    (35 ILCS 450/2-75)
13    Sec. 2-75. Distribution of proceeds.

 

 

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1    (a) The Oil and Gas Impact Fund and the Permanent Fossil
2Fuels Fund are hereby created as special funds in the State
3treasury.
4    (b) All moneys received by the Department under this Act
5shall be paid into the Oil and Gas Impact Fund paid into the
6General Revenue Fund in the State treasury.
7    (c) Each month, the State Comptroller shall order
8transferred and the State Treasurer shall transfer from the Oil
9and Gas Impact Fund to the Permanent Fossil Fuels Fund an
10amount equal to 5% of the moneys received by the Department
11under this Act during the immediately preceding month. In each
12State fiscal year, an amount equal to 5% of the accumulated
13principal amount available in the Permanent Fossil Fuels Fund
14on the last day of the immediately preceding State fiscal year
15shall be used to supplement other funds appropriated for the
16following programs:
17        (1) 50% of that money shall be used by the Department
18    of Commerce and Economic Opportunity to make grants and
19    provide other support for renewable energy projects, as
20    defined by the Illinois Power Agency Act, and workforce
21    training programs for renewable energy industries; in
22    awarding grants and other support for renewable energy
23    projects using these funds, the Department of Commerce and
24    Economic Opportunity shall give priority to applications
25    for viable projects in counties from which revenues have
26    been received under this Act; and

 

 

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1        (2) 50% of that money shall be used by the Department
2    of Natural Resources to support the acquisition,
3    management, and restoration of conservation lands; the
4    Department of Natural Resources shall give first priority
5    to viable acquisition, management, and restoration
6    projects in counties from which revenues have been received
7    under this Act.
8    The remainder of the moneys in the Permanent Fossil Fuels
9Fund shall be invested, and earnings on the investments shall
10be retained in the Fund.
11    (d) The remaining moneys in the Oil and Gas Impact Fund
12shall be used, subject to appropriation, by the Department of
13Natural Resources for any of the following purposes:
14        (1) remediation of legacy oil, gas, and abandoned well
15    plugging and reclamation projects;
16        (2) reclamation and remediation of drilling sites and
17    legacy pollution problems from drilling sites;
18        (3) costs associated with enforcement, monitoring,
19    data collection, and other costs of implementing and
20    enforcing oil and gas statutes; or
21        (4) costs associated with inspection, detection, and
22    repair of leaks in gas pipelines or other infrastructure.
23    (e) Within 30 days after the end of the lapse period for
24each State fiscal year, the State Comptroller shall order
25transferred and the State Treasurer shall transfer from the Oil
26and Gas Impact Fund to the Permanent Fossil Fuels Fund any

 

 

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1unobligated and unexpended moneys remaining in the Oil and Gas
2Impact Fund from the previous fiscal year.
3    (f) The moneys deposited into the Oil and Gas Impact Fund
4and the Permanent Fossil Fuels Fund under this Section shall
5not be subject to sweeps, borrowing, administrative charges or
6chargebacks, or other uses not specified by this Section.
7(Source: P.A. 98-22, eff. 6-17-13.)".