Senate Sponsors: WEAVER AND DEMUZIO. House Sponsors: BLACK-NOVAK-WINKEL-TURNER,ART-PARKE Short description: PETROLEUM BUSINESS ACT Synopsis of Bill as introduced: Creates the Petroleum Business Education, Safety, and Security Act. Establishes the Petroleum Business Education, Safety, and Security Council and sets out the Council's duties. Creates the Petroleum Business Education, Safety, and Security Fund. Amends the State Finance Act to create the Petroleum Business Education, Safety, and Security Fund. Effective immediately. SENATE AMENDMENT NO. 1. Adds reference to: 5 ILCS 80/4.17 Deletes everything after the enacting clause. Reinserts the text of the introduced bill with some changes. Defines "retail merchant" and "security". Changes the membership of the Petroleum Business Education, Safety, and Security Council. Changes the date for the annual transfer of funds into the Petroleum Business, Education, Safety, and Security Fund to July 1, 2002. Allows the Department of Commerce and Community Affairs to use money from the Fund to recover a necessary and reasonable amount for the administration of the Act. Provides a cap of $1.5 million per year on the transfer of revenue into the Petroleum Business Education, Safety, and Security Fund from the Underground Storage Tank Fund. Amends the Regulatory Sunset Act. Provides that the Petroleum Business Education, Safety, and Security Act shall have a sunset date of January 1, 2007. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status