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91_HB4654
LRB9112444SMdv
1 AN ACT to amend the Illinois Coal Technology Development
2 Assistance Act by changing Section 3.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Coal Technology Development
6 Assistance Act is amended by changing Section 3 as follows:
7 (30 ILCS 730/3) (from Ch. 96 1/2, par. 8203)
8 Sec. 3. Transfers to Coal Technology Development
9 Assistance Funds. As soon as may be practicable after the
10 first day of each month, the Department of Revenue shall
11 certify to the Treasurer an amount equal to 1/64 of the
12 revenue realized from the tax imposed by the Electricity
13 Excise Tax Law, Section 2 of the Public Utilities Revenue
14 Act, Section 2 of the Messages Tax Act, and Section 2 of the
15 Gas Revenue Tax Act, during the preceding month. Upon
16 receipt of the certification, the Treasurer shall transfer
17 the amount shown on such certification from the General
18 Revenue Fund to the Coal Technology Development Assistance
19 Fund, which is hereby created as a special fund in the State
20 treasury, except that no transfer shall be made in any month
21 in which the Fund has reached the following balance:
22 (1) $7,000,000 during fiscal year 1994.
23 (2) $8,500,000 during fiscal year 1995.
24 (3) $10,000,000 during fiscal years 1996 and 1997.
25 (4) During fiscal year 1998 and each year
26 thereafter, an amount equal to the sum of $10,000,000
27 plus additional moneys deposited into the Coal Technology
28 Development Assistance Fund from the Renewable Energy
29 Resources and Coal Technology Development Assistance
30 Charge under Section 6.5 of the Renewable Energy, Energy
-2- LRB9112444SMdv
1 Efficiency, and Coal Resources Development Law of 1997.
2 As soon as may be practical after the first day of each
3 month, beginning in fiscal year 2001, if the balance in the
4 Coal Technology Development Assistance Fund is more than
5 $10,000,000, the Comptroller shall order transferred and the
6 Treasurer shall transfer the amount above $10,000,000 into
7 the Large Business Attraction Fund.
8 (Source: P.A. 90-561, eff. 12-16-97; 90-624, eff. 7-10-98.)
9 Section 99. Effective date. This Act takes effect upon
10 becoming law.