Full Text of SB3181 98th General Assembly
SB3181sam001 98TH GENERAL ASSEMBLY | Sen. Julie A. Morrison Filed: 3/20/2014
| | 09800SB3181sam001 | | LRB098 20014 HLH 56716 a |
|
| 1 | | AMENDMENT TO SENATE BILL 3181
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 3181 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The State Finance Act is amended by adding | 5 | | Sections 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 | 11 | | amended by changing Section 2-75 as follows: | 12 | | (35 ILCS 450/2-75)
| 13 | | Sec. 2-75. Distribution of proceeds. |
| | | 09800SB3181sam001 | - 2 - | LRB098 20014 HLH 56716 a |
|
| 1 | | (a) The Oil and Gas Impact Fund and the Permanent Fossil | 2 | | Fuels Fund are hereby created as special funds in the State | 3 | | treasury. | 4 | | (b) All moneys received by the Department under this Act | 5 | | shall be paid into the Oil and Gas Impact Fund paid into the | 6 | | General Revenue Fund in the State treasury .
| 7 | | (c) Each month, the State Comptroller shall order | 8 | | transferred and the State Treasurer shall transfer from the Oil | 9 | | and Gas Impact Fund to the Permanent Fossil Fuels Fund an | 10 | | amount equal to 5% of the moneys received by the Department | 11 | | under this Act during the immediately preceding month. In each | 12 | | State fiscal year, an amount equal to 5% of the accumulated | 13 | | principal amount available in the Permanent Fossil Fuels Fund | 14 | | on the last day of the immediately preceding State fiscal year | 15 | | shall be used to supplement other funds appropriated for the | 16 | | following 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 |
| | | 09800SB3181sam001 | - 3 - | LRB098 20014 HLH 56716 a |
|
| 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 | 9 | | Fund shall be invested, and earnings on the investments shall
| 10 | | be retained in the Fund. | 11 | | (d) The remaining moneys in the Oil and Gas Impact Fund | 12 | | shall be used, subject to appropriation, by the Department of | 13 | | Natural 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 | 24 | | each State fiscal year, the State Comptroller shall order | 25 | | transferred and the State Treasurer shall transfer from the Oil | 26 | | and Gas Impact Fund to the Permanent Fossil Fuels Fund any |
| | | 09800SB3181sam001 | - 4 - | LRB098 20014 HLH 56716 a |
|
| 1 | | unobligated and unexpended moneys remaining in the Oil and Gas | 2 | | Impact Fund from the previous fiscal year. | 3 | | (f) The moneys deposited into the Oil and Gas Impact Fund | 4 | | and the Permanent Fossil Fuels Fund under this Section shall | 5 | | not be subject to sweeps, borrowing, administrative charges or | 6 | | chargebacks, or other uses not specified by this Section. | 7 | | (Source: P.A. 98-22, eff. 6-17-13.)".
|
|