JONES,JOHN-BLACK. (O'DANIEL-LUECHTEFELD) New Act 5 ILCS 80/4.19 new 30 ILCS 105/5.480 new Creates the Illinois Petroleum Education and Marketing Act and the Illinois Petroleum Resources Board. Repeals the Board on July 1, 2002. Provides that the Board shall consist of 12 members appointed by the Governor. Sets out the powers and duties of the Board. Creates the Petroleum Resources Revolving Fund, a continuing fund not subject to fiscal year limitations. Allows the Board to levy an assessment equal to one-tenth of 1% of the gross revenues of oil and gas produced from each well in the State. Requires the assessment to be deducted from the proceeds of production by the first purchaser and remitted to the Department of Revenue. Sets out the procedures for requesting a refund. Allows the Board to invest funds collected through the assessments. Provides that this Act does not preempt or supersede other State or national programs. Amends the State Finance Act to add the Petroleum Resources Revolving Fund. Amends the Regulatory Agency Sunset Act to repeal the Illinois Petroleum Education and Marketing Act on January 1, 2008. Effective July 1, 1998. SENATE AMENDMENT NO. 1. Eliminates the power to approve and disapprove the investment of moneys in the Petroleum Resources Revolving Fund from the list of powers and duties of the Illinois Petroleum Resources Board. 98-01-13 H FILED WITH CLERK 98-01-20 H FIRST READING 98-01-20 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-03-11 H ASSIGNED TO COMMITTEE ENVRMNT ENRGY 98-03-20 H DO PASS/SHORT DEBATE 023-000-000 HENE 98-03-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 98-03-23 H SECOND READING-SHORT DEBATE 98-03-23 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 98-03-25 H THIRD READING/SHORT DEBATE/PASSED 104-011-000 98-03-25 H ADDED AS A JOINT SPONSOR BLACK 98-03-26 S ARRIVE IN SENATE 98-03-26 S PLACED CALENDAR ORDER OF FIRST READING 98-03-31 98-04-01 S CHIEF SPONSOR O'DANIEL 98-04-01 S ADDED AS A CHIEF CO-SPONSOR LUECHTEFELD 98-04-01 S FIRST READING 98-04-01 S REFERRED TO SENATE RULES COMMITTEE RULES 98-04-28 S ASSIGNED TO COMMITTEE ENVIR & ENE 98-05-06 S AMENDMENT NO. 01-ENVIR. & ENE. S 98-05-06 S ADOPTED 98-05-06 S DO PASS AS AMENDED 006-000-000 SENV 98-05-06 S PLACED ON CALENDAR ORDER OF 2ND READING 98-05-07 98-05-07 S SECOND READING 98-05-07 S PLACED ON CALENDAR ORDER OF 3RD READING 98-05-12 98-05-13 S THIRD READING - PASSED 047-008-000 98-05-13 H ARRIVE IN HOUSE 98-05-13 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 98-05-14 H MOTION FILED CONCUR 01/JONES,JOHN 98-05-14 H MOTION REFERRED TO HRUL 98-05-14 H CALENDAR ORDER OF CONCURRENCE 01 98-05-18 H APPROVED FOR CONSIDERATION - COMPLIANCE 01/HRUL 98-05-18 H CALENDAR ORDER OF CONCURRENCE 01 98-05-19 H HSE CONCURS IN SEN AMENDMENTS (NO.) 01/117-000-000 98-05-19 H PASSED BOTH HOUSES 98-06-04 H SENT TO THE GOVERNOR 98-07-10 H GOVERNOR APPROVED 98-07-10 H EFFECTIVE DATE 98-07-10 98-07-10 H PUBLIC ACT.............................. 90-0614 END OF INQUIRY Full Text Bill Summary